Agency. German Finance Minister Lars Klingbill on Sunday called for “serious talks” with the United States after Us President Donald Trump threatened to impose a 50 percent tariff on imports from the European Union ( EU). On Friday, Trump threatened that “discussions (with the EU) have not reached anywhere” and that customs duties will come into effect from June 1.
If imposed, they will dramatically raise Washington’s current basic 10 percent tariffs and fuel rising tensions between the world’s two economic superpowers. Klingbill told bild newspaper that “we don’t need further provocation, but we need serious negotiations” and that he had spoken to his U.S. counterpart Scott Bessant about it.
On Friday, Trump reiterated his long-held view that the European Union ( EU), which he envisioned to ensure post-war peace in Europe, was “united to take advantage of us”, saying he was “not seeking a deal”. “Us customs duties threaten the US economy as much as the German and European economies,” Klingbill said. ’
Stock markets fell after Trump’s remarks amid fears of a new global economic disruption. The US dollar has also declined. Eu trade chief Maros Sefcovic said the bloc is committed to securing an agreement that works for both, and that trade relations should be guided by mutual respect, not threats. Klingbill reiterated Germany’s support for the EU to address talks with the US. “As Europeans, we are united and determined to represent our interests.”
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