Germany's Scholz urges EU to avoid escalation in U.S.-EU trade disputes

WASHINGTON (Reuters) - German Finance Minister Olaf Scholz on Friday said European Union officials were working intensively behind the scenes to hammer out a trade agreement with the United States and avert threatened tariffs, and he hoped a deal could be reached.Scholz, asked about new U.S. tariffs on EU cheese, wine and other imports that took effect on Friday, told reporters he favoured a calm approach that did not further escalate tensions with Washington. "I think it will work at the end of..