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In an interview with a German radio – Deutschland funk on Wednesday, the European Union’s (EU) Budget Commissioner Guenther Oettinger said that he hopes the EU could try to seek a wide reduction of tariffs in negotiations with the US this year.

Key Quotes:

“In this way, we want to avoid a further escalation of the trade conflict, and to avoid a trade war.”  

“One could try to untangle the existing tariffs and then … reduce tariffs for various goods and services.”

It’s worth noting that the European Commission President Juncker visits Washington today for trade talks after the US imposed metals tariffs on the EU.