The agreement, which imposes 15-percent tariffs on most EU exports, has drawn mixed reactions, with industries expressing concerns over its economic impact.
The deal notably reduces tariffs for Germany’s automotive sector from 27.5 percent, providing relief to one of the country’s key industries.
The chemical trade association VCI described the tariffs as “too high,“ while the BGA exporters association labelled it a “painful compromise” that poses an “existential threat” to businesses.
Despite these concerns, Merz pledged full support for the European Commission in finalising the agreement’s details.
Finance Minister Lars Klingbeil cautiously endorsed the deal as a “good first step,“ adding that its economic and employment effects would be closely monitored. - Reuters
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