WASHINGTON (dpa-AFX) - Just days before the planned implementation of US tariffs on EU imports, German Finance Minister Lars Klingbeil (SPD) is hoping for exemptions for the German steel industry. During his visit to Washington, he intends to discuss a possible quota arrangement for steel, which could allow certain quantities of the raw material to be traded across the Atlantic at reduced tariff rates or even tariff-free. "This would be very important for the German steel industry and for many jobs in Germany," Klingbeil told journalists present in Washington.
At the same time, Klingbeil expressed disappointment regarding the tariff negotiations between the EU and the US. "I think we were too weak. We also cannot be satisfied with the result that was achieved," he said. "We need to reflect on what the outcome of the debates over the past few weeks actually was." Klingbeil had previously emphasized that Germany must draw "consequences" following the tariff negotiations. Speaking on Deutschlandfunk about a possible end to free global trade, the SPD politician described the situation as a "setback."
The EU and the US recently reached an agreement in their tariff dispute. The deal between US President Donald Trump and EU Commission President Ursula von der Leyen sets a tariff rate of 15 percent on most EU imports into the United States. The new start date is set for August 7./ngu/DP/jha
