Published by Global Banking and Finance Review
Posted on May 23, 2025
(Reuters) -German Foreign Minister Johann Wadephul on Friday said U.S. President Donald Trump's threat to raise tariffs on European Union trade helped nobody, and that Berlin would continue to support the EU to negotiate with Washington.
Speaking alongside his Indian counterpart Subrahmanyam Jaishankar in Berlin, Wadephul also said Germany hoped the EU would agree a free trade deal with India by the end of the year.
Trump said he would recommend a 50% tariff on the EU to begin on June 1, which would result in stiff levies on luxury items, pharmaceuticals and other goods produced by European manufacturers. It, along with a separate threat targeting smartphone maker Apple, sent the global market roiling after weeks of de-escalation provided some reprieve.
The European Commission "has our full support in maintaining our access to the American market, and I believe such tariffs don't help anyone. They would only cause economic development in both markets to suffer," Wadephul said.
"That's why we continue to pursue negotiations and support the European Commission. We want to defend Europe and the European market while simultaneously exerting the power of persuasion in America."
Separately, Wadephul said he had discussed deepening defence ties and Indo-Pacific security with Jaishankar.
(Reporting by Matthias WilliamsEditing by Ludwig Burger and Thomas Seythal)
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