German Finance Minister Says EU Must Respond to U.S. Tariff Threat
(MENAFN) On Sunday, German Vice Chancellor and Finance Minister Lars Klingbeil emphasized the urgent need for the European Union to respond strongly if tariff negotiations with the United States collapse, as reported by a German newspaper.
His comments come in the wake of U.S. President Donald Trump’s Saturday announcement threatening to impose a 30 percent tariff on EU imports starting August 1, following unsuccessful negotiation attempts.
Klingbeil called for an end to the mounting trade disputes, stating, "Trump's tariffs produce only losers. They threaten the American economy just as much as they harm businesses in Europe."
According to the newspaper, Klingbeil stressed that the EU requires "a fair deal" rather than facing new threats or provocations.
He further cautioned that Germany would not stand idly by if talks fail. "If a fair solution cannot be reached, we must take decisive countermeasures to protect jobs and businesses in Europe," he said, confirming that preparations for such actions are already in motion. "Our hand remains outstretched, but we will not go along with everything."
Additionally, Klingbeil revealed plans for Germany to speed up efforts in broadening its international trade partnerships.
The United States ranks as Germany’s top export destination. In 2024, German exports to the U.S. totaled 161 billion euros (equivalent to 188 billion U.S. dollars), generating a trade surplus of nearly 70 billion euros, based on official German government figures. (1 euro = 1.17 U.S. dollars)
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