The trade agreement concluded between the European Union and the United States of America will avoid "unnecessary escalation of transatlantic trade relations" and showed that EU unity and persistent work "bore fruit." This was stated by German Chancellor Friedrich Merz, as reported by UNN with reference to DW.
Details
According to him, the agreement allowed to "prevent a trade conflict that could severely hit Germany's export-oriented economy."
Merz emphasized that this particularly applies to the automotive industry, where tariffs previously introduced by US President Donald Trump will be almost halved - from 27.5% to 15%. It is in this area, according to the German Chancellor, that the agreement "is of paramount importance."
Everyone benefits from stable and predictable trade relations with market access for both sides - both from this side of the Atlantic and from the other, both businesses and consumers
He added that Europeans could protect their core interests, "although I would like to see further simplification of transatlantic trade."
Recall
Earlier, the US and the EU concluded a large-scale trade agreement, under which the EU will purchase energy carriers for $750 billion and invest $600 billion in the US. The EU will also open its countries for zero-tariff trade, including military equipment.
According to White House chief Donald Trump, this is the largest deal the US has ever made.
European Commission President Ursula von der Leyen spoke about the details of the trade agreement signed between the European Union and the United States of America. According to her, the EU, within the framework of the agreement, plans to use American energy resources to achieve energy independence from Russia.