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Germany and France hit out at EU-US deal

Euro slides as investors bet that long-awaited trade agreement will hurt Eurozone economy

German Chancellor Friedrich Merz said the agreement would cause ‘considerable damage’ to his country, Europe and the US itself © Clemens Bilan/EPA/Shutterstock

German Chancellor Friedrich Merz said the agreement would cause ‘considerable damage’ to his country, Europe and the US itself © Clemens Bilan/EPA/Shutterstock

Germany and France hit out at the long-awaited EU-US trade deal on Monday, warning it would wound the bloc’s economy, as the euro slid against the dollar.

German Chancellor Friedrich Merz said the agreement struck with US President Donald Trump the day before would cause “considerable damage” to his country, Europe and the US itself.

“Not only will there be a higher inflation rate, but it will also affect transatlantic trade overall,” Merz said, in a striking rebuke of the deal negotiated by European Commission President Ursula von der Leyen.

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Author: FT Reporters

Source: Financial Times

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