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  Trade dispute with the US: Luxembourg's Foreign Minister Asselborn warns against escalation – Politics | Bit Updates
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Trade dispute with the US: Luxembourg's Foreign Minister Asselborn warns against escalation – Politics

Saturday, March 10th, 2018 | bitcoin updates

In the trade dispute with the United States, Luxembourg's Foreign Minister Jean Asselborn warned against an escalation. "The principle 'eye for an eye' has never helped," Asselborn told the Tagesspiegel on Sunday. "If you put it into action, you risk being blinded," said the longest-serving foreign minister in the EU. Asselborn pointed to the fact that steel production was playing an important role for Luxembourg, given the protective tariffs on steel and aluminum announced by US President Donald Trump. Approximately ten percent of the 2.4 million tons of annual steel production in Luxembourg will be exported to the US, according to Asselborn. Among the steel products exported to the USA from Luxembourg are the gray steel girders produced by Arcelor-Mittal , The steel girders are often installed in skyscrapers in the USA. Arcelor-Mittal, the largest steel producer in the world, has its headquarters in Luxembourg. Asselborn rejects Moscovici's allegations in tax policy Asselborn expressed its willingness to discuss the issue of higher taxes on US companies such as Amazon, which has its European headquarters in Luxembourg. It goes without saying that Luxembourg will accept a compromise in the discussion on corporate taxation, which is found at the level of the Organization for Economic Co-operation and Development (OECD), the Foreign Minister said. However, he rejected the criticism of EU Economic Commissioner Pierre Moscovici, who accused Luxembourg and six other EU states of allowing global corporations to pursue aggressive tax policies, undermining the EU's internal market. The criticism of the commission is "difficult to accept," said Asselborn. "The Commission should seek a more in-depth discussion with smaller EU countries such as Luxembourg before public criticism is expressed." Luxembourg's chief diplomat also called for swift EU agreement on a reform of the EU asylum system. "Without a single migration policy, the European Union will break," he said. Mr Asselborn warned that EU leaders are delaying a possible decision on a long-term mechanism for distributing refugees in the Community: "A decision of the Heads of State or Government entrenched in the unanimity principle and No refugee quotas, would be a coup against European law. "Foreign Minister: Scholz will not act as a" pedantic treasurer "By the designated German Finance Minister Olaf Scholz Asselborn, however, expects the SPD politician in the circle of his European counterparts not as a" pedantic treasurer "occur becomes. "I believe that he understands that Germany should not be indifferent to EU states that are not world export champions," he said. Read the full interview with Luxembourg's Foreign Minister Asselborn on Sunday in the Tagesspiegel or on Saturday evening in the e-paper.



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