"In accordance with the agreement with the EU, the US has reduced tariffs on imports of cars and car parts from the EU to 15 percent, retroactively to August 1. This is an important step.

RReliable framework conditions are now of significant importance for our companies. The additional burdens so far have put the automotive industry under considerable pressure.

At the same time, it should be noted that the current US tariffs of 15% on cars and parts and 25% on commercial vehicles continue to pose a significant challenge for the German automotive industry. Added to this are the burdens posed by the additional tariffs on a range of steel and aluminum products.

The EU must continue to work to improve the framework conditions for transatlantic trade. The agreed regulatory cooperation represents an opportunity for both sides of the Atlantic. It should form the basis for a positive agenda. At the same time, Berlin and Brussels must work even more resolutely to sustainably strengthen Europe's competitiveness and attractiveness as a business location.

The tariff dispute with the US has highlighted the importance of a strong European economy. The EU must shape the conditions for companies and investors so that Europe becomes more attractive in global competition again. Furthermore, it is important to push ahead with the conclusion of free trade agreements and raw materials partnerships with as many regions of the world as possible with greater speed, determination, and pragmatism."