France and Germany have warned about the economic fallout from the 15 percent tariffs European goods face in the U.S.

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.

Both sides hailed the agreement as the biggest ever. But it will come at a cost to the European Union, and many details have yet to be nailed down.

Merz said the recently concluded trade agreement between the EU and the United States — which includes a 15% tariff on most EU imports — would cause “significant damage” to German industry. Read also: Giorgia Meloni supports U.

German Chancellor Friedrich Merz has warned that the compromise reached in the tariff dispute between the European Union and the United States will severely impact Germany's export-oriented economy. "The German economy will suffer significant damage from these tariffs,