EU trade deal will take a toll on German economy, finance minister says

BERLIN – German Finance Minister Lars Klingbeil is dissatisfied with the European Union’s (EU) trade deal with the United States, as he thinks it will take a toll on Germany’s economic growth, he said on July 30.

“I have no illusions about it, it is rather growth-weakening,” Mr Klingbeil said in the presentation of the 2026 draft budget, lamenting that the EU was “too weak” in the negotiations.

The US struck a framework trade agreement with the EU on July 27,

on most EU goods.

“I would have wished for a different outcome,” Mr Klingbeil said. “Still, all in all, it is good that there is an agreement with the US, that there are no further escalations.” REUTERS

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