German Chancellor Friedrich Merz said on Monday he was not satisfied with the result of trade talks with the United States, but "more simply wasn't achievable" and added the German economy would suffer "significant" damage due to the agreed tariffs.

Leaders from Europe's two largest economies have led a chorus of gloomy reactions to the trade deal struck between EU chief Ursula von der Leyen and US President Donald Trump. German Chancellor Friedrich Merz said the agreement would "substantially damage" his nation's finances,

The trade agreement between the US and the EU is one of the largest in history, but many argue that it places a heavier burden on Europe’s economy.