Transatlantic relationship is not about 'harming each other,'

German Finance Minister Lars Klingbeil, speaking on Thursday in Davos, opposed an escalation of tensions between the United States and Europe amid new tariffs threats.



"The transatlantic relationship is not about harming each other," Klingbeil said.



The minister pushed back against calls for financial retaliation after reports that a Danish pension fund had sold U.S. government bonds.



"This is absolutely not about breaking with the Americans or dissolving the relationship," the minister said in Davos.



Europe was strong and had options, he said, but its aim was not escalation.



Speaking to reporters at the World Economic Forum after meetings with investors, the minister said the world was in upheaval and long-standing alliances were being tested, but added that many countries and regions were seeking closer cooperation with Germany and Europe.