Berlin, August 25(HS): German Chancellor Friedrich Merz on Sunday urged the country to actively pursue new trade partnerships in the coming years, as the recently signed trade agreement between the United States and the European Union imposes a 15 percent tariff on European goods.

Speaking at a government Open Day event in Berlin, Merz questioned, “How will we take global trade forward if the United States is no longer willing to abide by World Trade Organization (WTO) rules? We must look for countries that share our values.”

The CDU party leader emphasized opportunities for fresh trade alliances in South America, Asia, and Africa, suggesting such partnerships could yield mutual benefits. “We need to maintain good economic relations with America, and so far, we have been somewhat successful in doing so. But we must consistently expand into new markets,” Merz asserted.

Chancellor Merz also highlighted the urgent need for Germany to address fundamental issues regarding its social security system by the end of this year. He underscored the importance of curbing escalating welfare spending on employment, pensions, and healthcare, stating, “We must make our social security system strong and sustainable for the future.”

The remarks come after a trade framework agreement was reached on July 28 between US President Donald Trump and European Commission President Ursula von der Leyen, which has resulted in fresh tariffs on European exports.

---------------

Hindusthan Samachar / Jun Sarkar