German Finance Minister Wolfgang Schaeuble said at the World Economic Forum in Davos on Thursday that Germany is not preparing to punish UK over Brexit, but warned Britain not try to gain competitive advantage by cutting corporate tax rates.

Schaeuble said all G20 countries had agreed not to take such steps, and insisted that he would remind Theresa May of this.

Schaeuble also warned Donald Trump that he will not be able to deliver on his promise to make America greater if Washington provides less global leadership.

“I heard from the president-elect that he wants to make the U.S. stronger,” Schaeuble said “If you want to make the U.S. stronger you cannot reduce (your) capacity to lead the world.”