German Chancellor Friedrich Merz emphasized the need for the European Union to negotiate a swift and straightforward tariff agreement with the United States. He highlighted the urgency, stating that prolonged negotiations could hinder businesses, particularly in essential sectors such as chemicals and automotive. The deadline is approaching, with the EU required to finalize a deal before tariffs can be enforced by the US. A failure to reach an agreement may lead to significant additional tariffs impacting a wide range of EU goods, complicating economic relations further.
A speedy agreement was needed, he said, "in particular for our country's key industries: chemicals, pharmaceuticals, mechanical engineering, aluminium, steel, automobiles."
Merz said a quick deal was needed "to remove the burden of tariffs on our businesses, which are far too high."
Chancellor Merz urged the European Union to strike a 'quick and simple' deal on tariffs with the United States, saying, "It is better to achieve a quick and simple solution than a lengthy and complicated one that remains in the negotiation stage for months."
The EU has until Wednesday next week to reach a deal or see US tariffs kick in on a majority of its goods.
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