EU to Counter U.S. Tariff Threats: A Call for Decisive Action
Germany's Finance Minister Lars Klingbeil calls on the EU to take firm action against U.S. tariff threats by President Trump, which could potentially hurt both U.S. consumers and European exporters. With stalled trade negotiations, Germany emphasizes protecting its businesses and economy in a united EU front.
On Sunday, German Finance Minister Lars Klingbeil urged the European Union to take decisive measures against the United States if ongoing tariff negotiations fail to resolve escalating trade tensions. The call to action follows President Donald Trump's threat of a 30% tariff on imports from Europe and Mexico, set to begin on August 1.
Germany, a key U.S. trading partner, expressed its readiness to retaliate to protect its economic interests, highlighted by a significant 70 billion euro trade surplus with the U.S. in 2024. Klingbeil, also Germany's vice chancellor, stressed the need for fair negotiations while avoiding unilateral escalations.
Support for continued talks came from Juergen Harder, deputy leader of Germany's CDU/CSU parliamentary group, who remains hopeful for a trade compromise. The EU's strategic unity aims for equitable deals to prevent adverse impacts on economies and consumers on both sides.
(With inputs from agencies.)
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