Olaf Scholz hopes that the future European gas price cap “never becomes relevant”. In addition, the Chancellor is promoting a dialogue with the USA and welcomes the implementation of his “heart project” of the minimum tax.

Chancellor Olaf Scholz (SPD) expressed confidence in an agreement on a European gas price cap at the meeting of energy ministers on Monday. He believes in a “very good result,” said Scholz at the end of the last EU summit this year in Brussels. “However, the price will be so high (…) that I hope it will never become relevant,” added Scholz.

Scholz was relieved about another decision that was made after years of negotiations: “We are now finally implementing a project close to my heart in Europe, the global minimum taxation for companies”. This is “an important step for global tax justice,” emphasized the Chancellor. The tax of at least 15 percent for international corporations is intended to close loopholes.

Regarding the multi-billion dollar US subsidy package, the chancellor said he was counting on further talks with the United States instead of confrontation: he was “confident that we can achieve improvements through dialogue with the Americans.”