Germany's Merz welcomes US-EU agreement to settle trade dispute

German Chancellor Friedrich Merz has welcomed the agreement reached in the customs dispute between the European Union and the US.

“With the agreement, we have succeeded in averting a trade conflict that would have hit the export-oriented German economy hard,” Merz said in a government statement issued on Sunday evening.

This applied in particular to the automotive industry, where the current tariffs of 27.5% have been almost halved, he added.

Merz emphasized that it was good that an unnecessary escalation in trans-Atlantic trade relations was being avoided.

“The unity of the European Union and the hard work of the negotiators have paid off,” he asserted.

Merz thanked European Commission President Ursula von der Leyen and Trade Commissioner Maroš Šefčovič.

“The European Commission has my full support in the upcoming negotiations on the details of the agreement,” Merz added. Further work was needed to strengthen trade relations with the US, he said.

Merz also pointed out that Europe had been able to safeguard its core interests, even if he would have liked to see further facilitation in trans-Atlantic trade.

“Everyone benefits from stable and predictable trade relations with market access for both sides – on both sides of the Atlantic, companies and consumers alike.”