Germany's economy minister Peter Altmaier on Thursday held out hope that the United States and the European Union could solve their trade dispute, Reuters reported. Altmaier also added that he would travel to Washington later this year to push for a deal.

According to him, a solution could be based on an understanding reached in July between President Donald Trump and European Commission President Jean-Claude Juncker that foresees the U.S. holding back on imposing tariffs on cars while the two sides discuss cutting other trade barriers.