Germany's Merz says EU-US tariff deal averts trade war, helps autos sector

VIENNA, July 27 (Reuters) - An outline trade deal struck between U.S. President Donald Trump and European Commission President Ursula von der Leyen on Sunday is good, avoiding a trade war and preventing a serious blow to the autos sector, German Chancellor Friedrich Merz said.

"This agreement has succeeded in averting a trade conflict that would have hit the export-orientated German economy hard," he said in a statement. "This applies in particular to the automotive industry, where the current tariffs of 27.5% will be almost halved to 15%."