German Chancellor Friedrich Merz said that Trump’s threat of 30% tariffs on goods from the European Union would hit the German export industry “to the core,” and vowed to work toward a solution.

Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks.