German Chancellor Friedrich Merz said at a press conference in Berlin that the US 15% tariff on European exports would cause serious damage to the German economy. The press conference was broadcast on the German government’s website.
Friedrich Merz commented on the new trade restrictions and admitted that the negotiations with the United States had not led to the expected result.
“I am not satisfied with this result in the sense of ‘it’s good as it is.’ I am simply stating that it was clearly impossible to achieve more based on the initial conditions we had with the United States. This means that the German economy will suffer significant damage due to these tariffs,” Merz said.
The Chancellor noted that the continuation of the 15% tariffs would put serious pressure on Germany’s export-oriented economy.
According to him, not only Germany but also the rest of Europe and the United States would be affected.
“We will see the consequences of this trade policy in America as well. Not only will there be higher inflation, but it will also have a broader impact on transatlantic trade. These tariffs are not in the best interests of the United States, in my opinion,” Merz added.
Earlier, German industrialists called the trade agreement between the European Union and the United States a compromise with serious consequences for exports.
