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Finance

Posted By Global Banking and Finance Review

Posted on January 21, 2025

Scholz cautiously optimistic on U.S.-German partnership after first Trump talks

DAVOS, Switzerland (Reuters) - Chancellor Olaf Scholz voiced cautious optimism on Tuesday on the potential for German-U.S. relations under President Donald Trump, citing good first talks with his administration, and stressed that cooperation was key for peace and prosperity.

"The United States is our closest ally outside Europe. And I will do everything in my power to ensure that it stays that way," Scholz said in a speech at the World Economic Forum in Davos, Switzerland.

"My first good conversations with President Trump and also the contacts between our advisers point in this direction," he added.

Speaking on the first full day of Trump's new term in office, Scholz said cooperation between Europe and the United States was key for peace and security worldwide as well as economic progress.

However, the German chancellor added that Europe must become more self-reliant.

Germany's ambassador to Washington has warned internally of turbulent relations under Trump while German companies have sounded the alarm over threatened tariffs under the new U.S. administration.

(Reporting by Andreas Rinke, Writing by Rachel More, Editing by Miranda Murray)

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