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Germany's Merz says EU to shape better offer as global trade order comes under pressure - Finance news and analysis from Global Banking & Finance Review
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Germany's Merz says EU to shape better offer as global trade order comes under pressure

Published by Global Banking & Finance Review

Posted on October 30, 2026

2 min read

· Last updated: October 30, 2026

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Germany’s Merz: EU to Lead New Trade Offer as Global Order Faces Pressure

EU’s Role in Shaping Global Trade Amid Rising Pressures

SEOUL, Oct 30 (Reuters) - German Chancellor Friedrich Merz said on Friday that the European Union will take the lead in shaping a better offer when free trade and the rules-based trading order come under pressure.

Opportunities Beyond Bilateral Agreements

"We want to offer opportunities beyond bilateral agreements," Merz told the Asia-Pacific Conference of German Business in Seoul.

Defending the Rules-Based Global Economic Order

Germany was willing to act with like-minded partners in Europe and elsewhere to defend and further develop the rules-based global economic order, Merz said.

Importance of International Trade

He said that many countries owed their prosperity to international trade and were unwilling to give it up.

Strengthening Partnerships in Asia

Merz, on a week-long Asia tour that has also taken him to Singapore and Japan, held a summit with South Korean President Lee Jae Myung on Thursday.

The two leaders set out an enhanced security partnership.

Deepening Defence and Economic Ties

During his Asian trip, Merz has sought to deepen defence and economic ties with like-minded countries amid concerns over US tariffs and China's state-backed industrial expansion.

Bilateral Cooperation Opportunities

Merz said on Friday that the structural similarity between South Korean and German industries offered opportunities for deepening bilateral cooperation.

Support for Startups and Market Entry

South Korea's Industry Ministry said in a statement that South Korean and German companies and organisations signed nine memoranda of understanding to support startups and market entry in fields such as electricity, energy and biohealth.

(Reporting by Andreas Rinke and Joyce LeeEditing by Ed Davies)

Key Takeaways

  • Merz reaffirmed the EU’s leadership in crafting a robust offer as free trade and the rules‑based trading order face mounting challenges (devdiscourse.com).
  • On his Asia trip, Merz proposed aligning EU trade pacts and aiming for a large-scale EU‑CPTPP interregional agreement to better reflect intertwined supply chains (bundesregierung.de).
  • In Seoul, he enhanced strategic ties with South Korea — launching a Korea‑Germany High‑Tech Partnership Framework across semiconductors, AI, robotics and clean energy, and proposed a Global Political Alliance for Rules‑Based Trade (asiae.co.kr).

References

Frequently Asked Questions

What did Chancellor Merz say about the EU's trade role?
Merz said the EU will lead in shaping a better offer when free trade and the rules-based trading order are under pressure.
Which countries are involved in the enhanced EU-Asia economic ties?
Germany is deepening economic ties with South Korea, Singapore, and Japan during Merz's Asia tour.
What agreements were signed between South Korea and Germany?
South Korean and German companies signed nine memoranda of understanding to support startups and market entry in electricity, energy, and biohealth.
What concerns have influenced Germany’s trade actions?
Concerns over US tariffs and China’s state-backed industrial expansion have influenced Germany to strengthen economic and defense ties with like-minded nations.
How does the similarity between German and South Korean industries affect trade?
The structural similarity offers opportunities to deepen bilateral cooperation between the two countries.

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