German finance minister urges EU to push back if tariff talks with U.S. fail
Klingbeil's remarks are in response to U.S. President Donald Trump's threat on Saturday to impose a 30 percent tariff on imports from the EU on Aug. 1, after negotiations so far have failed to yield a deal.
Urging an end to the escalating trade tensions, Klingbeil said "Trump's tariffs produce only losers. They threaten the American economy just as much as they harm businesses in Europe."
Klingbeil was quoted by Sueddeutsche Zeitung as saying that EU doesn't "need new threats or provocations," but "a fair deal."
In addition, Klingbeil warned that Germany would not remain passive if discussions break down. "If a fair solution cannot be reached, we must take decisive countermeasures to protect jobs and businesses in Europe," he said, adding that preparations were already underway. "Our hand remains outstretched, but we will not go along with everything."
Klingbeil also said Germany would accelerate efforts to diversify its global trade ties.
The United States is Germany's largest export market. In 2024, Germany exported goods worth 161 billion euros (188 billion U.S. dollars) to the United States, with a trade surplus of nearly 70 billion euros, according to German government data. (1 euro = 1.17 U.S. dollar)
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