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Klingbeil's Quota Quest: Confronting Commercial Constraints
German Finance Minister Lars Klingbeil plans to address European steel quota issues during his Washington meeting alongside US Treasury Secretary Scott Bessent. Klingbeil criticized recent US-European trade negotiations, stating Europeans "were too weak" in achieving satisfactory results. The recent trade deal raises duties on most European imports to 15%, though Brussels secured partial waivers for automobiles but not steel & aluminum. German steel companies including ThyssenKrupp & Salzgitter face significant challenges from these tariff structures, alongside their stock performances reflecting market concerns regarding trade policy implications.
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