German finance minister says US also needs a swift tariff solution

Germany was the biggest EU exporter to the US last year, sending goods there worth 161 billion euros ($183 billion), according to official figures

But Klingbeil told German public broadcaster ARD that tariffs endangered the US as well as the German economy.

“We should not feel provoked but focus on what is at stake. We want a joint solution with the US…. and I want to say very clearly here that that is also in the interest of the US,” he said in an interview.

“All data from the US concerning the level of the dollar and US bonds show that they also should have an interest to work together with us,” he added.

The White House paused most of the tariffs Trump announced in early April against nearly every country in the world after investors sold off US assets, including government bonds and the US dollar.

Trump left in place a 10% baseline tax on most imports, and later reduced his 145% tax on Chinese goods to 30%.

A 50% levy on EU imports would raise consumer prices in the United States, notably on German cars, pharmaceuticals and machinery. ($1 = 0.8800 euros)

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