German Chancellor Friedrich Merz stated that the likely introduction of 30% tariffs by US President Donald Trump "will hit the very heart" of the largest European economy's exports. This was reported by Bloomberg, informs UNN.
Details
According to Merz, if this happens, the German government may have to postpone some of its economic policy measures.
"This will overshadow everything and hit the German export industry at its very heart," he said.
He noted that he is in close coordination with other EU leaders to ensure that tariffs of such a scale are not introduced.
"This requires two things: unity in the European Union and good communication channels with the American president," he added.
Asked if Germany supports counter-tariffs against the US, Merz replied: "Yes, but not before August 1." The Chancellor said he had discussed the issue intensively over the weekend with both French President Emmanuel Macron and European Commission President Ursula von der Leyen, and also had a phone call with Trump on Friday.
"We want to use this time now, these two and a half weeks until August, to find a solution. I am truly committed to this," Merz summarized.
Recall
Earlier, US President Donald Trump announced that from August 1, the US would introduce 30% tariffs on goods imported from the European Union and Mexico.
In response, European Commission President Ursula von der Leyen stated that the European Union would continue to work towards a trade agreement with the US until August 1, but at the same time was ready for proportional countermeasures.