The Latest: Merkel keen to avoid harmful trade 'spiral'

The Latest: Merkel keen to avoid harmful trade 'spiral'


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BRUSSELS (AP) — The Latest on the European Union's summit of leaders (all times local):

3:35 p.m.

German Chancellor Angela Merkel says it's important to avoid a "spiral of trade measures" between Europe and the United States in which she says everyone would be a loser.

President Donald Trump's administration has exempted the European Union until May 1 from new U.S. tariffs on steel and aluminum while the two sides continue talks.

Merkel said Thursday that, given the short reprieve, "this remains a matter of great urgency."

She added: "We do not want to get into a spiral of trade measures in which we think ultimately everyone would lose. We are interested in fair international multilateral trade and will continue to speak out against protectionism."

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2:45 p.m.

French President Emmanuel Macron says that the short temporary exemption for the European Union from U.S. import tariffs on steel and aluminum "is not considered satisfactory."

The European Union obtained an exemption until May 1 to negotiate with the U.S. EU leaders gathered at a summit said that the grounds for the U.S. tariffs and the timing of the exemption were out of line.

Macron said: "The U.S. strategy — it is a bad strategy."

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1:40 p.m.

Germany's economy minister says he's "happy and relieved" the European Union has obtained a last-minute temporary exemption to U.S. tariffs on steel and aluminum.

Peter Altmaier told reporters Friday that Germany and the EU will now work on "finding a good solution with all resources" by May 1 — the new deadline.

Altmaier said the EU hadn't granted concessions, adding "when I arrived in Washington, I had the impression that a lot in the U.S. administration had not yet been set in stone."

Foreign Minister Heiko Maas says the result "shows that a resolved EU that speaks one voice is listened to."

He added, however, that the "basic conflict remains" and said Germany would continue to fight for a "fair and regulated trade and for a multilateral world trade system."

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11:00 a.m.

The European Union leaders say that they want the temporary exemption to U.S. tariffs on steel and aluminum the tariffs to be made permanent.

The leaders said that the tariffs U.S. President Donald Trump could still impose "cannot be justified on the grounds of national security" and therefore should be scrapped for good.

Despite the temporary exemption, the EU leaders said at Friday's summit that they reserve the right "to respond to the U.S. measures as appropriate and in a proportionate manner."

The EU leaders have also said they want close cooperation with Washington to deal with trade issues from now on.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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