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BREAKING NEWS

BREAKING NEWS

U.S. Treasury official - Must keep transatlantic partnership strong

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BERLIN (Reuters) – The United States and Germany should strengthen cooperation on issues such as improving international taxation, fighting money laundering and tackling the challenges posed by China’s economic rise, a senior U.S. Treasury official said on Wednesday.

“We must keep this partnership strong,” U.S. Deputy Secretary of Treasury Justin Muzinich told a Berlin conference organised by a German think tank that advocates close ties between Europe and the U.S.

Muzinich said a growing number of countries realised that China’s practices of technology transfer and market distortion were damaging, adding he hoped to see broad support from Germany and Europe for the U.S. approach to changing China’s behaviour.

The U.S. administration has threatened higher import tariffs on European cars, complicating joint efforts to tackle a more assertive China. Asked about the car tariffs threat, Muzinich said experts were working on the issue and he hoped a good solution would be reached.

(Reporting by Michael Nienaber; Editing by Michelle Martin)

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