German Chancellor-designate: Trump's tariffs increase the risk of a financial crisis

ChainCatcher news, according to Jin Shi reports, German Chancellor-designate Merz stated that Trump's tariff policy increases the risk of a financial crisis and advocates for a transatlantic free trade agreement.

He said, "I hope to reach a new transatlantic free trade agreement with zero tariffs on everything, which is good for both sides." The EU has proposed "zero for zero" reciprocal tariffs on U.S. industrial products. Trump told reporters on Monday that this proposal is not enough, suggesting that Europe should offset tariffs by purchasing American energy.

Merz stated that if the U.S. decides to completely withdraw from global trade, Europe will have to focus on non-U.S. markets. Merz said, "Trump's policies are increasing the risk of the next financial crisis arriving sooner. We Europeans need to come up with convincing countermeasures."