Juncker- Trump deal a good signal for all: German govt

A German government spokeswomen said Monday that an agreement between the United States and the European Union over trade talks was a good signal for all.

Despite the lack of a timetable, further negotiation should be done quickly, she said.

U.S. President Donald Trump and European Commission President Jean-Claude Juncker on Wednesday agreed to avoid an all-out trade war. The two leaders agreed to talk and work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods.

Tanja Alemany, spokeswoman for German Federal Ministry of Economy and Energy, said at a regular press conference that the result was a good signal for all to avoid a possible trade war or an intensifying trade conflict.

"The first signs are good. Now follows a process that will be accompanied by a working group in order to eventually have the goal, especially in the industrial sector to reduce tariffs, but also non-tariff barriers between the EU and the U.S.," said Alemany.

However, Alemany said the questions about the timetable should be addressed to the European Commission, adding there will be a high-ranking EU working group with America.

"When will start work, I do not know. However, the EU should submit a report shortly. Everyone involved knows that things have to be done quickly," said Alemany.

The spokeswomen reiterated Germany's stance for free trade and against protectionism, and Germany was happy about all countries that follow this path.