German Finance Minister Lars Klingbeil, a member of the Social Democratic Party (SPD), expressed optimism on the prospects of resolving the trade dispute with the United States, following talks with his US counterpart at the G7 summit in Canada.
“We have sent a clear signal that we want to find a solution and I believe the American side also sees that it’s better to find common solutions” Klingbeil told RTL and ntv in an interview. He referred to the US-UK agreement as an example of what can be achieved, saying, “That’s a signal that the European Commission, which negotiates on our behalf, has seen. That’s why we’re now on the path to finding solutions.”
Klingbeil also discussed the future of Ukraine aid with US Finance Minister Scott Bessent. The German vice-chancellor still hopes to bring US President Trump on board with the European effort, but acknowledged that mixed signals are to be expected. “There are always different signals, of course. But in the end, it was always clear that the Americans work with us when it comes to protecting Ukraine, which is under attack and to put pressure on the parties to find a solution. And I received no other signals here” he said.
Meanwhile, the German finance minister rejected a proposal by economic experts to increase the investment rate in the budget to 12 percent, saying, “We have agreed on 10 percent, by the way, also jointly with the Greens. That was an important signal we set, that it’s about additional investments. We’re already investing at a high level in Germany, but we’re going to put a bit more on top of that. And that’s the path we’re going to take.