German Chancellor Friedrich Merz says he's “cautiously optimistic” about securing a U.S.-EU trade deal within days, highlighting its crucial importance for Germany’s export-heavy industries.
Speaking during a budget session in the Federal Parliament, Merz stressed the urgency of reaching a deal, particularly for Germany’s export-driven economy.
He warned that the ongoing tariff dispute is threatening key sectors such as chemicals, pharmaceuticals, automotive, steel, and aluminum, and emphasized that a quick resolution is essential to protect jobs and economic stability.
Merz noted that negotiations between the European Commission and the U.S. government have been 'intensive,' and revealed ongoing communication with both U.S. President Donald Trump and European Commission President Ursula von der Leyen.
The goal, he said, is to achieve a trade agreement that ensures the lowest possible tariff rates between the two economies.
Merz also emphasized that Germany must work in full alignment with its EU partners to make the deal a reality. “Germany alone would achieve nothing on this path,” he said.
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Disruption in the Strait of Hormuz has increased the strategic importance of Bab al-Mandab, raising fears that instability in both waterways could trigger a wider global energy and trade crisis.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source who said there had been no progress in talks to revive the interim deal agreed in June and define a timeframe to implement it.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 12th of August, covering the latest developments.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over the strategic waterway and insisting it will not reopen until Washington fulfils its commitments under an interim deal.
Taiwan staged military defence drills on Wednesday as China concluded joint naval exercises with Indonesia in waters east of the island.
Washington’s counter-narcotics push is expanding as Colombia’s new conservative government backs deeper security cooperation.
Meta said it had removed more than 750,000 Facebook and Instagram accounts suspected of belonging to Australians under 16, as the country’s internet regulator weighs enforcement action over its teen social media ban.
Russia has accused Ukraine of threatening global grain supplies after recent strikes on Black Sea agricultural infrastructure, while Moscow carried out a new overnight attack on Ukraine’s major Danube port of Izmail.
Russian President Vladimir Putin has used Pacific Fleet drills to criticise Japan, NATO and possible Western moves against Russian commercial ships. He made the comments during his first visit to Iturup, a Japan-claimed island at the end of the Kuril chain near the island of Hokkaido.
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