Germany .. Mertz welcomes agreement with Washington and the industrial sector criticizes him

German Chancellor Friedrich Mertz welcomed the trade agreement between the United States and the European Union, which includes the imposition of customs duties by 15% on European exports, and confirmed that he avoids an unnecessary escalation in commercial relations through the Atlantic, while the industrial sector criticized it.

The counselor said in a statement: We were able to maintain our basic interests, although I was hoping to see more facilities in the Atlantic trade, and the United States is the largest commercial partner for Germany.

He added: “This agreement helps to avoid a commercial conflict that would have strongly affecting the German economy.”

Car sector gains

Mirtz expressed his satisfaction, especially regarding the automotive sector, “as current customs duties of 27.5% will be reduced to half, to 15%.”

“In this field in particular, the rapid reduction of customs duties is acquired.”

In addition to the auto sector, which is the main pillar of the German industry, the chemical and machinery sectors are particularly dependent on exports to the United States.

Significant negative repercussions on the industry

On Sunday evening, the German Industries Union warned of “major negative repercussions on the industry” of the 15% customs fees stipulated in the trade agreement between the United States and the European Union.

Al -Ittihad said in a statement, “This agreement represents an insufficient settlement and sends a catastrophic signal to the economy that is closely interconnected on both sides of the Atlantic.”
He added that the European Union accepts painful customs duties that would have great negative repercussions on the German industry that is largely dependent on export.

The cost is expensive on both sides

The German Chemical Trade Association (VII) said the agreement provides for “exorbitant” fees.

“When a person expects a hurricane, he rejoices with a strong storm, the escalation has been avoided, but the cost is exorbitant on both sides,” she added in a statement.

As for the German Finance Minister Lars Clingel, he pointed out that a negotiating solution with Washington is a good thing as a first step.

He added: We will now assess the results of the negotiations and their impact on the economy and employment in Germany. “