Published by Global Banking & Finance Review®
Posted on February 3, 2025
2 min readLast updated: January 26, 2026
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German Chancellor Scholz states the EU is strong enough to defend its trade interests with the US, highlighting diplomatic strategies and challenges.
BRUSSELS (Reuters) - Europe is strong enough to pursue its own interests in trade talks with the United States, German Chancellor Olaf Scholz said on Monday after a meeting with fellow EU leaders.
"The European Union is strong. We have every opportunity to make sure we can look after our own interests," Scholz said.
"And that is also a message to the United States, which at the same time is connected to us through an outstretched hand."
Scholz also praised Mexican President Claudia Sheinbaum for winning breathing room from U.S. President Donald Trump's threatened tariffs.
"The Mexican president is a smart politician," he said. "She played it cool."
The German chancellor also acknowledged problems in the common EU defence policy such as fragmentation and the absence of large common defence programmes.
"That has to change and that is why we have to change the way of purchasing," he said.
He also commented on Trump's latest demand for Ukraine to provide the U.S. with rare earths in exchange for more aid by saying "it would be very selfish, very self-centred".
Such resources would be better used for the country's reconstruction after the war, Scholz added.
(Reporting by Bart Meijer in Brussels and Andrey Sychev in Berlin; Editing by Benoit Van Overstraeten and Stephen Coates)
Scholz stated that the European Union is strong enough to pursue its own interests in trade talks with the United States.
He emphasized that the EU can look after its own interests while still being connected to the US through an outstretched hand.
He acknowledged issues such as fragmentation and the lack of large common defense programs that need to be addressed.
Scholz described Trump's demands for Ukraine to provide rare earths in exchange for aid as selfish and self-centered.
He suggested that resources would be better utilized for the country's reconstruction after the war.
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