The leader of Germany’s Social Democratic Party (SPD), Lars Klingbeil, has called for a summit to bolster the country’s steel industry, advocating for discussions with industry leaders and worker representatives. Klingbeil, who also serves as Federal Minister of Finance, stated the need to address challenges such as energy costs, suggesting lower prices as a potential solution.
He also emphasized the importance of resolving the ongoing trade dispute with the United States regarding steel imports. Klingbeil proposed reasonable solutions, including lower tariffs or higher quotas, highlighting the US reliance on high-quality German steel, particularly in sectors like aerospace manufacturing. Currently, the US imposes a 50% tariff on imported steel.
Klingbeil voiced criticism regarding a previous trade agreement negotiated between European Commission President Ursula von der Leyen and former US President Donald Trump. He questioned the perceived weakness of the European Union, with 27 member states and a population of 450 million, in securing favorable terms. He expressed a desire for the EU to demonstrate greater strength and exert more influence on the global stage.
He also commended the role of CDU leader Friedrich Merz in fostering European dialogue on critical issues such as security and international affairs, urging Germany to take a leading role within Europe.
Turning to domestic financial matters, Klingbeil called on Germany’s federal states to contribute financially to relief efforts for heavily indebted municipalities. He stated that his ministry is working on finding viable solutions to address the issue of municipal debt, emphasizing the importance of strengthening local authorities’ capacity to act. He noted that mayors in regions like the Ruhr area have flagged existing debt as a significant constraint on their ability to invest and implement local initiatives, arguing that years of austerity measures have hampered progress.