BERLIN: The European Union may implement strong countermeasures if negotiations with the United States fail to produce a fair agreement on tariffs, Germany’s finance minister warned.
Lars Klingbeil stressed the need for serious talks but cautioned that the EU must be ready to act decisively to safeguard its economy.
US President Donald Trump recently announced plans to impose 30 percent tariffs on EU and Mexican goods starting August 1, citing trade imbalances.
The move could severely impact Europe’s largest economy, Germany, which is recovering from a prolonged recession.
Klingbeil stated that the tariffs would create “only losers” and harm both American and European businesses.
He reiterated Europe’s commitment to a fair deal but warned that the EU would not accept unfavorable terms.
“Our hand remains outstretched but we won’t accept just anything,“ he said.
German Chancellor Friedrich Merz echoed these concerns, noting that the tariffs would undermine economic recovery efforts and severely affect exporters.
He supported French President Emmanuel Macron’s call for credible countermeasures if no agreement is reached.
Merz revealed ongoing discussions with Macron, EU chief Ursula von der Leyen, and Trump, expressing hope for a resolution.
He recalled past instances where Trump’s tariff threats were resolved through negotiation, adding, “This is also what I am hoping for in the case of Europe.” - AFP
