Merz: Optimistic that EU-US trade agreement will be reached soon

German Chancellor Friedrich Merz said he was optimistic that the European Union would secure a trade deal with the US within the next few days, or by the end of the month at the latest.

"I myself am also in close contact with the US government, with the president and the European Commission," Merz told lawmakers in the Bundestag on Wednesday.

Merz said the goal is to reach an agreement as soon as possible that links mutual trade between the U.S. and the European Union with the lowest possible tariffs.

As President Trump's pause on so-called "reciprocal tariffs" is set to end on August 1, the US administration has begun sending letters to trading partners, notifying them of the duties that will be applied to their US exports.

In addition to the so-called "reverse" duties, the EU is also facing a 25% tariff on automobiles and car parts shipped to the US, as well as a 50% tariff on steel and aluminum exports. Both sides are now seeking exemptions to ease the impact on certain industries. /CNA

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