24 June 2025 – German Chancellor Friedrich Merz (CDU) yesterday expressed strong criticism of the EU Commission’s negotiating strategy at the Industry Day in Berlin and called for changes. Most base metals on the LME moved sideways at the start of trading today.
Base metals move sideways
Most base metals on the LME moved sideways at the start of trading today. Nickel, lead, copper, zinc and tin were up by up to 0.5%. Aluminium continued to reduce inventories on the LME on Monday, climbing to USD 2584.5 per tonne, its highest price since March 2025.
Base metals on the Asian commodity exchange SHFE painted a similar picture today, with most prices moving sideways.
Criticism: Brussels too fragmented in tariffs dispute with the US
German Chancellor Friedrich Merz (CDU) has called on the EU Commission to take a different approach in tariff negotiations with the United States. The European Union is negotiating in a far too complicated manner, Merz said at Industry Day in Berlin. With the deadline for an agreement in the transatlantic tariff dispute expiring on 9 July, this is an urgently needed step.
United States only interested in a few major agreements
While Brussels is once again getting bogged down in details and wants to negotiate hundreds of tariff issues at once, its trading partner, the US, is interested in just a few major agreements. Chancellor Merz agrees with this stance. He says Brussels focus should be on key industries that are vital to the EU (automotive, chemicals, pharmaceuticals, mechanical engineering) and not on negotiating 600 customs codes at once.
Merz calls for an end to overregulation and mistrust on the part of the EU
In his speech yesterday, the German Chancellor also said that the European Union’s obsession with overregulation must finally come to an end, as Germany and the EU are in danger of becoming incapable of action. He went on to demand that politicians finally put an end to the underlying mistrust of private households and private companies.
We wonder when Brussels green left-wing spectrum around Ms von der Leyen will finally realise this and put it into practice? The era of overregulation and control is over and will not return any time soon.
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