EU-US Trade Deal Faces Criticism from German Finance Minister

German Finance Minister Lars Klingbeil criticizes the EU's trade agreement with the US, considering it harmful to Germany's economic growth. He expressed disappointment at the terms, which include a 15% tariff on most EU goods, though he acknowledged avoiding further escalations was positive.

German Finance Minister Lars Klingbeil has voiced his dissatisfaction regarding the European Union's recent trade deal with the United States, suggesting it could negatively impact Germany's economic growth. He described the agreement as 'growth-weakening' and criticized the EU's negotiating position as 'too weak.'

The trade deal, concluded on Sunday, entails a 15% import tariff on most EU goods entering the US market. Klingbeil expressed disappointment with the arrangement, stating, 'I would have wished for a different outcome.' Despite this, he acknowledged the relief of reaching an agreement that avoids further escalations.

The outcome of these negotiations has sparked concern within the German economic sector, as stakeholders now brace for potential impacts on trade and industry growth.

(With inputs from agencies.)