Klingbeil’s remarks are in response to U.S. President Donald Trump’s menace on Saturday to impose a 30 % tariff on imports from the EU on Aug. 1, after negotiations thus far have didn’t yield a deal.
Urging an finish to the escalating commerce tensions, Klingbeil stated “Trump’s tariffs produce solely losers. They threaten the American financial system simply as a lot as they hurt companies in Europe.”
Klingbeil was quoted by Sueddeutsche Zeitung as saying that EU doesn’t “want new threats or provocations,” however “a good deal.”
In addition, Klingbeil warned that Germany wouldn’t stay passive if discussions break down. “If a good answer can’t be reached, we should take decisive countermeasures to guard jobs and companies in Europe,” he stated, including that preparations have been already underway. “Our hand stays outstretched, however we won’t go together with every thing.”
Klingbeil additionally stated Germany would speed up efforts to diversify its world commerce ties.
The United States is Germany’s largest export market. In 2024, Germany exported items value 161 billion euros (188 billion U.S. {dollars}) to the United States, with a commerce surplus of practically 70 billion euros, in keeping with German authorities knowledge. (1 euro = 1.17 U.S. greenback)
