The tariff deal between the United States and the European Union is seen as more burdensome for companies due to a lack of clarity, according to a German business survey that urged Brussels to take tougher action. The German Chamber of Commerce and Industry (DIHK) said the results of its August survey showed that firms want a clear strategy from the EU, even if it may have a negative impact on their own businesses.
“The EU must be clear in defending its regulatory autonomy and economic sovereignty, and must not sacrifice them for short-term trade deals,” said DIHK foreign trade expert Volker Treier.
The US and the EU reached a framework trade agreement in late July, setting a basic tariff of 15% on EU goods imported into the US, followed by a joint statement last week. However, negotiations are still ongoing because the US tariff rates for the car and metal sectors remain unclear.
The DIHK urged the EU to avoid additional bureaucracy and demand a mechanism to prevent future tariff increases. "In an emergency, the EU should not be afraid to take countermeasures and must negotiate decisively. In the long term, the goal remains the elimination of WTO-violating US tariffs," Treier added.
