BERLIN: Europe should impose punitive tariffs on imports from the US if President Donald Trump acts to shield US industries from foreign competitors, a senior ally of German Chancellor Angela Merkel said in a newspaper interview.
Trump has already formally withdrawn the US from the Trans-Pacific Partnership (TPP) trade deal, distancing America from its Asian allies and vowed to renegotiate the US free-trade deal with Canada and Mexico.
The tycoon-turned-president has also threatened German carmakers with a border tax of 35 percent on vehicles imported into the US market, saying such a levy would help create more jobs on American soil.
“If Donald Trump imposes punitive tariffs on German and European products, then Europe should also impose punitive tariffs on US products,” Volker Kauder, parliamentary floor leader of Merkel’s conservatives, told the Funke media group in an interview published on Saturday.
“We cannot accept everything,” Kauder added.
He said German officials would have to remind “our friends in Washington” that trade wars in the past had already shown that both sides only lost from such measures.
“We just have to say calmly and with self-confidence: If Trump carries out what he said, then Europe must react,” Kauder said.
The German government has vowed to protect global free trade after Trump threatened protectionist measures and his top adviser on trade accused Germany of exploiting a weak euro to boost exports.
German Vice Chancellor Sigmar Gabriel has suggested that the EU should refocus its economic policy toward Asia, should the Trump administration pursue protectionism.
In a sign of already shifting trade flows, China became Germany’s most important trading partner for the first time in 2016, overtaking the US, which fell back to third place behind France, data showed on Friday.
Merkel’s ally vows tit-for-tat moves against US
Merkel’s ally vows tit-for-tat moves against US
Saudi Maaden reports 156% profit surge to $2bn on strong commodity prices, record production
RIYADH: Saudi mining and metals company Maaden has reported a 156 percent jump in its net profit attributable to shareholders for 2025, driven by higher commodity prices, record production volumes, and a one-off bargain purchase gain.
The state-backed giant posted a net profit of SR7.35 billion ($1.95 billion) for the full year 2025, an increase from SR2.87 billion in the previous year. The firm’s revenue surged by 19 percent to SR38.58 billion, up from SR32.55 billion in 2024.
This comes as Saudi Arabia steps up efforts to expand its mining sector as a pillar of economic diversification, encouraging international participation and private investment to unlock the Kingdom’s estimated $2.5 trillion in untapped mineral resources under Vision 2030.
In a statement on Tadawul, the company said: “Performance was led by record phosphate production, near record aluminum production, an increase in all three of Maaden’s main output commodity prices.”
The performance was also fueled by a 60 percent increase in gross profit, which reached SR14.79 billion. In its annual results announcement, Maaden attributed the top-line growth to “higher commodity market prices for phosphate, aluminum and gold business units,” as well as increased sales volumes in its phosphate and aluminum segments. This was partially offset by slightly lower sales volume in the gold unit.
Maaden’s CEO, Bob Wilt, hailed 2025 as a transformative year for the company, marked by strategic growth and operational excellence. “This was a great year for Maaden’s strategic growth. We delivered strong financial results and sustained operational excellence across the business,” he said in a statement.
“This was driven by growth in production across all businesses, including record-breaking DAP (di-ammonium phosphatevolumes), disciplined cost control across and a clear commitment to our role as a cornerstone of the Saudi economy,” Wilt added.
Profitability was further bolstered by an increased share of net profit from joint ventures and an associate. This included a one-off bargain purchase gain of SR768 million related to Maaden’s investment in Aluminium Bahrain B.S.C. The company also benefited from lower finance costs.
The fourth quarter of 2025 was strong, with Maaden swinging to a net profit of SR1.67 billion, compared to a loss of SR106 million in the same period of the prior year. Quarterly revenue rose 7 percent to SR10.64 billion.
The firm achieved record production of di-ammonium phosphate, reaching 6.72 million tonnes for the year, a 9 percent increase. Aluminum production remained near-record levels, while the company added a net 7.8 million ounces to its reportable gold mineral resources through discovery and resource development.
The phosphate division saw sales jump 17 percent to SR20.77 billion, with the earnings before interest, taxes, depreciation, and amortization margin expanding to 47 percent. The aluminum business reported a 9 percent increase in sales to SR10.99 billion, with EBITDA more than doubling in the fourth quarter.
Looking ahead, Wilt emphasized that the pace of growth will accelerate as the company advances key initiatives, including the Phosphate 3 Phase 1 and Ar Rjum projects, which remain on budget and schedule. Maaden has also secured a gas supply for its future Phosphate 4 project.
“This pace of growth will only accelerate. Not only as we advance projects and increase the scale of our exploration program, but as we continue to grow production and implement technology that will further modernize, streamline and unlock value,” Wilt added.
Earnings per share for the year rose sharply to SR1.91, up from SR0.78 in 2024. Total shareholders’ equity increased by 18.7 percent to SR61.59 billion.
