“The announcement by President [of the USA, Donald] Trump is a wake-up call for the industry on both sides of the Atlantic,” stated the Federation of German Industries (BDI) in a statement released today.
Trump announced today that he will impose 30% tariffs on EU products starting August 1, in a letter to European Commission President Ursula von der Leyen, published on his social network, Truth Social, dated Friday, July 11.
“A trade conflict between economic areas as closely linked as the EU and the United States damages economic recovery, innovation strength, and ultimately confidence in international cooperation,” said Wolfgang Niedermark, a BDI board member, quoted by the French news agency AFP.
The trade federation thus called on the German government, the European Commission, and the American administration to find solutions “within an objective dialogue and avoid escalation.”
“The few weeks separating us from the entry into force of the tariffs on August 1 should be used to negotiate on equal terms,” they argued.
Von der Leyen stated today that Brussels remains willing to negotiate with the US to reach an agreement before August 1, after Donald Trump announced 30% tariffs.
She responded that she remains willing to continue negotiations with the US to reach an agreement before August 1 but does not rule out “proportional” countermeasures to “safeguard” European interests.
The President of the European Council, António Costa, asserted that the EU must remain “firm, united, and ready” to protect its interests while “building strong trade partnerships worldwide.”
Germany could be one of the countries most affected by the tariffs, as its economy has greater exposure to exports to the US, particularly in the chemical, pharmaceutical, automotive, steel, and machinery manufacturing industries.
