Berlin: German Chancellor Friedrich Merz reiterated Thursday the need for a swift trade agreement with the United States to safeguard crucial sectors such as pharmaceuticals, automobiles, and steel, as the looming tariff deadline of July 9 approaches rapidly. During a banking conference in Berlin, Merz emphasized the urgency of resolving the trade impasse with the US, advocating for a resolution that is "quick and simple" rather than a prolonged and complicated negotiation process.

According to Anadolu Agency, Merz highlighted the significance of key industries, including chemical, automobile, pharmaceutical, mechanical engineering, aluminum, and steel, which face potential threats from impending US tariffs. He warned of the possibility of weakened ties between Europe and the US, expressing legitimate concerns about the sustainability of shared interests between the two regions in the long term.

Merz's remarks come amid ongoing negotiations between the EU and the US, with the EU aiming to finalize a trade deal before the looming tariff deadline. The urgency in Merz's tone reflects his earlier statement on June 26, where he expressed a preference for a "quick and simple" trade deal over a "slow and complicated" one.

The backdrop to these negotiations includes a series of tariff threats and suspensions. 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 more severe 50% direct tariff on the EU, effective June 1, citing stalled trade negotiations. However, after discussions with European Commission President Ursula von der Leyen, Trump announced a postponement of the new tariff to July 9.