GERMANY’S economy minister Sunday lashed out at U.S. President Donald Trump, slamming his global trade rows and efforts to “dictate” Europe’s dealings with Iran through renewed U.S. sanctions.

In an interview with German weekly Bild am Sonntag, Peter Altmaier warned of the damaging consequences of a full-blown U.S.-China trade war, and expressed concern about Trump’s decision to slap hefty metals tariffs on Turkey.

“This trade war is slowing down and destroying economic growth, and creates new uncertainties,” Altmaier said. “The past has shown that consumers suffer most in trade wars, because goods become more expensive.”

Trump has already slapped punitive tariffs on Chinese imports worth US$34 billion and additional levies on US$16 billion in Chinese goods will kick in later this month, with China vowing to respond in kind.

Trump also announced Friday that he would double tariffs on steel and aluminum from Turkey, pushing the lira to historic lows against the dollar.

The brewing trade conflict comes as the two NATO allies remain at loggerheads over the detention of an American pastor and a host of other issues.

Altmaier, however, welcomed a recent easing of transatlantic tensions after European Commission chief Jean-Claude Juncker and Trump agreed to hold off on imposing new tit-for-tat tariffs for now.

The deal has “secured hundreds of thousands of jobs in Germany and Europe” but was only “a first step,” he said. “At the end of the day, we need global trade with lower tariffs, less protectionism and open markets.”

Turning to the reimposition of U.S. sanctions on Iran, Altmaier stressed the importance of keeping European business deals in Iran alive. (SD-Agencies)