The German Chamber of Industry and Commerce (DIHK) has welcomed the extension of the negotiation timeline for a potential trade agreement between the United States and the European Union, while cautioning against excessive optimism. Helena Melnikov, DIHK’s Deputy Managing Director, stated in an interview with the “Rheinische Post” that the continued suspension of tariffs in transatlantic trade is a positive sign, creating necessary breathing room for discussions.
Melnikov emphasized the importance of both Brussels and Washington leveraging this extended period to reach a sustainable and durable solution. She warned that only a robust agreement can prevent renewed tensions and provide essential planning certainty for businesses across various sectors. Maintaining a transatlantic trade deal remains a priority for German foreign trade.
While a short-term agreement could provide immediate relief for companies, the ultimate objective must be a comprehensive and long-term framework establishing reliable foundations for trade and investment. Melnikov stressed that the EU must present a unified front, demonstrating cohesion and determination in the negotiations. She noted a positive development: both sides appear to be prioritizing dialogue over confrontation. This stance follows a recent announcement by U.S. President Donald Trump extending the negotiation period until August 1st. The fate of over 1.2 million German jobs connected to exports to the U.S., the country’s most important trade partner outside of Europe, hangs in the balance.