The agreement reached between the United States and the 27-member European Union has pleased Germany, one of the largest automobile manufacturers, whose economy would be severely affected if Trump's punitive tariffs were to take effect.
German Chancellor Friedrich Merz was the first to welcome the trade agreement.
"It is a positive development that the EU and the US reached an agreement on tariffs,” Merz said, emphasizing that it “averted a trade conflict that would have severely affected the German economy, especially the automotive sector.”
Despite what has been achieved, Merz has made it clear that Germany will not stop there. "I will continue to push for the reduction of tariffs and the elimination of trade barriers, including through other trade agreements," he was quoted as saying by Reuters.
If 30% tariffs on European exports to the United States were to come into effect, the existence of many companies could be jeopardized, according to the German Machinery and Engineering Association./TCH
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