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US-EU: Fin Min-'Tariffs A Detriment To Growth, Waiting To See Concrete Steps'

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Speaking in Brussels following a Eurogroup meeting,  Finance Minister Jörg Kukies says regarding the incoming Trump administration in the US "We need to wait until concrete steps come from the US, we need to keep cooperation and dialogue." On the prospect of tariffs being imposed on EU goods, Kukies says "Germany is an open economy [and] is one of the most vulnerable to tariffs." Calls tariffs "a detriment to growth", claiming "We do now know which specifics are planned, we have to wait."

  • Kukies' comments come just two days after Economy Minister Robert Habeck warned that the EU country "with the biggest trade surplus [with the US] is Germany - and that is a thorn in Donald Trump's side." Habeck said tariffs will hit the whole EU, but that "you can be pretty sure that the tariffs that he might want to impose will be targeted in such a way that they will particularly hit the German economy,"
  • Counter to the more downbeat comments from gov't ministers, leader of the main opposition centre-right Christian Democratic Union Friedrich Merz has been more measured, saying at a leadership retreat for the pan-continental European People's Party over the weekend "I think Donald Trump is very predictable. He does what he says. In this respect, I think we can expect a lot more clarity in the coming weeks and months.” Merz is the strong favourite to lead the German gov't after the 23 Feb election. 
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Speaking in Brussels following a Eurogroup meeting,  Finance Minister Jörg Kukies says regarding the incoming Trump administration in the US "We need to wait until concrete steps come from the US, we need to keep cooperation and dialogue." On the prospect of tariffs being imposed on EU goods, Kukies says "Germany is an open economy [and] is one of the most vulnerable to tariffs." Calls tariffs "a detriment to growth", claiming "We do now know which specifics are planned, we have to wait."

  • Kukies' comments come just two days after Economy Minister Robert Habeck warned that the EU country "with the biggest trade surplus [with the US] is Germany - and that is a thorn in Donald Trump's side." Habeck said tariffs will hit the whole EU, but that "you can be pretty sure that the tariffs that he might want to impose will be targeted in such a way that they will particularly hit the German economy,"
  • Counter to the more downbeat comments from gov't ministers, leader of the main opposition centre-right Christian Democratic Union Friedrich Merz has been more measured, saying at a leadership retreat for the pan-continental European People's Party over the weekend "I think Donald Trump is very predictable. He does what he says. In this respect, I think we can expect a lot more clarity in the coming weeks and months.” Merz is the strong favourite to lead the German gov't after the 23 Feb election.