Escalation of U.S.-China trade dispute is very worrying - Germany's BDI

The latest escalation in the U.S.-China trade dispute is very worrying, BDI President Dieter Kempf said on Tuesday, adding that firms which have invested in the United States and China were directly affected by new tariffs.

"The United States and China must urgently de-escalate the conflict," Kempf said.

He added that it was high time to strengthen the World Trade Organisation (WTO) by modernizing its rules framework and improving its monitoring mechanisms.