European and US Trade Officials Pursue Last-Minute Deal Ahead of Deadline
Germany’s Federal Minister of Economics, Katherina Reiche, expressed optimism that a trade agreement between the European Union and the United States will be reached before the July 9 deadline set by US President Donald Trump.
Reiche emphasized the importance of finding a lean framework agreement, with subsequent work on smaller issues to follow. She also highlighted the need for better recognition of differing standards, stating that she and her US counterparts have agreed on this point. The German government is supporting the European Commission in its negotiations, with Reiche affirming that all parties agree on the urgency of resolving the current state of affairs as soon as possible.
The minister also stressed the significance of gas imports from the United States, describing the country as a reliable partner in this regard. The import of American liquefied natural gas, or LNG, is a crucial element in the future of the trade agreement, according to Reiche.
In the context of Germany’s hydrogen strategy, Reiche emphasized the need to make green gases competitive. Currently, hydrogen is not widely available and, when it is, it is expensive in small quantities.