Agreed Tariffs are Too High: VCI on US-EU Customs Deal

Market Insights Agreed Tariffs are Too High: VCI on US-EU Customs Deal

2025-08-12 Source: Press release VCI 1 min Reading Time

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Although the VCI welcomes the US-EU customs deal in the face of escalating tensions between the two sides, it also shares that the agreed tariffs are too high.

EU Commission President Ursula von der Leyen and US President Donald Trump shake hands after reaching an agreement in the tariff dispute. (Source: © picture alliance / ASSOCIATED PRESS) — EU Commission President Ursula von der Leyen and US President Donald Trump shake hands after reaching an agreement in the tariff dispute.
(Source: © picture alliance / ASSOCIATED PRESS)

Frankfurt am Main/Germany – The VCI (The German Chemical Industry Association) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the threat of a trade war for the time being. VCI Executive Director Wolfgang Große Entrup commented: "Anyone expecting a hurricane is grateful for a storm. Further escalation was avoided. Nevertheless, the price is high for both sides. Europe's exports are losing competitiveness. US customers are paying the tariffs."

From the chemical industry's perspective, the agreement in principle, which still needs to be analyzed in detail, is merely the basis for a process to strengthen transatlantic relations. The VCI Executive Director is clear: "From the chemical industry's perspective, the agreed tariffs are too high. At the same time, however, it is good that even higher tariffs were avoided. Now the German government must act even more consistently to offset this additional burden."

The chemical industry, with its many thousands of products, is the enabler for all other industries – in the US and the EU. "What's important now is that chemical tariffs in the US and the EU are significantly reduced again in further negotiations. This would facilitate the reindustrialization and transformation of industry on both sides of the Atlantic," said Große Entrup.

The VCI and its professional associations represent the interests of approximately 2,300 companies in the chemical-pharmaceutical industry and related sectors vis-à-vis policymakers, authorities, other sectors of the economy, academia, and the media. In 2024, VCI member companies generated approximately 240 billion euros in revenue and employed over 560,000 people.

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Date: 08.12.2025

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