German business community accuses the EU-US agreement of being a painful compromise!
The German Federal Association of Foreign Trade and Wholesale said that the tariff agreement reached by EU Commission President von der Leyen and the US President is a painful compromise.
"Additional taxes pose a threat to the survival of many of our traders. Even though there is now some initial certainty about trade conditions, supply chains will change, prices will rise, and the agreement with the United States will also cost Germany's prosperity and job opportunities,"
The German Industry Federation also made sharp criticisms of the agreement, calling it a fatal signal for both economies.
"The agreement is an insufficient compromise and sends a fatal signal to the closely connected economies on both sides of the Atlantic. So far, it has successfully prevented further deterioration of the situation, which is the only positive aspect of this agreement."
In contrast to the dissatisfaction and doubts from the business community, the German political circle is delighted. Deputy Chancellor and Minister of Finance Lars Klingbeil said: "We have always sought to resolve issues through negotiations, and it has now been achieved, which is good. Basically, I still believe that tariffs harm the economies on both sides of the Atlantic. We need low tariffs and open markets, and we will continue to maintain good trade relations. For this, we will develop new global partnerships with the United States."
Original article: https://www.toutiao.com/article/1838848112761868/
Statement: The article represents the personal views of the author.