Tariffs: Merz Welcomes EU-US Agreement, German Economic Factors Express Pessimism

German economic factors are expressing pessimism following the EU-US agreement on tariffs, while Friedrich Merz welcomes the agreement.

Chancellor Friedrich Merz expressed satisfaction that an escalation of the trade dispute was avoided, stressing that it would have hit the German economy hard. He welcomed the agreement between Ursula von der Leyen and Donald Trump.

Merz emphasized that EU unity and the hard work of the negotiators had paid off, thanking von der Leyen and Maroš Šefčovič.

The German Foreign Trade Association (BGA) spoke of a "painful compromise" and warned of "noticeable consequences" for Germany. BGA President Dirk Jandura called for support for small and medium-sized enterprises.

Clemens Fuest of the Ifo Institute for Economic Research described the agreement as a "humiliation" for Europe.