Germany is very concerned about US tariffs on Mexico and Canada, a government spokeswoman said on Monday. "Many German companies producing for the US market are present in both Mexico and Canada," said a spokeswoman for the Economy Ministry,

The president’s threats to slap duties on goods imported from the European Union are part of a pattern of directing the harshest penalties at the United States’ closest allies.

German stocks stabilized on Tuesday after the United States suspended planned tariffs of 25% on Mexico and Canada. The DAX, Germany's top stock market index, rose by 0.36% to 21,505.70 points by the time the German stock market closed,