Merz Says 30% US Tariffs Would Hit German Industry to ‘Core’

German Chancellor Friedrich Merz said US President Donald Trump’s threat of 30% tariffs would hit exporters in Europe’s largest economy “to the core,” if a negotiated solution in the trade conflict can’t be found in the coming weeks.

The European Union will extend the suspension of trade countermeasures against the US until Aug. 1 to allow for further talks after Trump threatened a new 30% tariff rate against the bloc over the weekend.