Merz expressed cautious optimism about reaching a trade agreement with the United States soon. Trump had previously announced reciprocal tariffs but suspended their implementation, aiming for a deal to avoid higher tariffs. A basic 20-percent tariff along with sectoral rates on cars, aluminum, and steel threatened European Union trading partners. Intense negotiations were underway, with Merz personally engaging with Trump. Merz emphasized that securing an agreement was crucial for key sectors like chemicals, pharmaceuticals, and auto manufacturing, while the chancellor called for a simpler accord compared to typical EU trade deals.
Merz stated, "I am cautiously optimistic that we may succeed in reaching an agreement with the United States in the next few days or at the latest by the end of the month."
Trump announced sweeping "reciprocal" tariffs on imports into the United States in April, but promptly suspended their implementation and incited partners to seek a deal with Washington.
Reaching an accord was in the vital interest of key industrial sectors such as chemicals, pharmaceuticals, mechanical engineering and auto manufacturing, Merz said.
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