G20 summit in Buenos Aires
Bring about a better trade political climate
VCI sees G20 as as an opportunity to ease tensions in global trade political situation and to open door for new liberalisation agenda ++ Trump and Juncker should present a concrete timetable for reducing industrial tariffs and for regulatory cooperation ++ Strong call: Reverse escalating tariff spirals worldwide, shape a more liberal and fairer world trade system.
Utz Tillmann, director-general of the German chemical industry association VCI, sees the G20 summit as an opportunity to ease tensions in the global trade political situation. From Tillmann’s view, it would be particularly urgent to finally abandon the plans for additional automobile tariffs in the trade dispute between the USA and the EU. Such tariffs would be detrimental also to the German chemical industry as a supplier. Tillmann states:
“Instead, the door should be opened for a new liberalisation agenda. Presidents Trump and Juncker could send a strong signal by presenting in Buenos Aires a concrete timetable for reducing industrial tariffs and for regulatory cooperation.”
Tillmann would also find it desirable to reverse the escalating tariff spirals not only in the relationship between the USA and Europe but also between the US and China. The VCI’s director-general speaks for cooperation in international trade relations: “The beginning discussion about WTO reforms is an ideal setting to make a joint effort and shape a more liberal and fairer world trade system. The global economy does not need political uncertainty – it needs modern rules.”
- VCI's most important arguments and positions, accompanied by facts and figures, on the topic "Trade Policy for Open Markets and International Rules"
The VCI represents the politico-economic interests of around 1,700 German chemical companies and German subsidiaries of foreign businesses. For this purpose, the VCI is in contact with politicians, public authorities, other industries, science and media.The VCI stands for over 90 percent of the chemical industry in Germany. In 2017 the German chemical industry realised sales of more than 195 billion euros and employed around 453,000 staff.