Germany's Merz again urges quick trade deal with US as tariff deadline nears

ISTANBUL

German Chancellor Friedrich Merz reiterated Thursday the need for a quick trade deal with the US to protect key sectors such as pharma, auto and steel as the tariff deadline of July 9 is days away.

"The trade impasse with the US needs to be resolved quickly. Better quick and simple than lengthy, complicated and months of negotiations," Merz told a banking conference in Berlin.

He emphasized the importance of chemical, automobile, pharmaceutical, mechanical engineering, aluminum and steel sectors, which are under threat of US tariffs.

Stressing that Europe must face the possibility of the US weakening its ties with Europe, Merz said there are legitimate doubts about whether Europe and the US will continue to share common interests in the long term.

Merz's comments came as the two parties are negotiating a trade deal, which the EU wishes to reach before the tariff deadline later this month.

On June 26, Merz said he wishes to see a "quick and simple" trade deal with the US rather than a "slow and complicated" one.

In April, the US imposed a 20% direct tariff on the EU, later suspending it on April 9 for 90 days.

Last month, President Donald Trump threatened to impose a 50% direct tariff on the EU effective on June 1, saying the trade negotiations were "going nowhere."

However, after speaking to the European Commission President Ursula von der Leyen, Trump announced that the new tariff will be postponed to July 9.

This week, Trump said he had no plans to extend the July 9 deadline.