While European Commission President Ursula von der Leyen praised a trade agreement signed between the EU and US on Sunday as a stabilising factor "in uncertain times," representatives of the German economy have expressed concern.

Von der Leyen and US President Donald Trump struck a tentative trade deal to avert a potentially devastating tariff war between two of the world's largest economies on Sunday. The majority of EU exports bound for the US will be subject to a 15% tariff.

According to a statement made by von der Leyen, this also includes billions of euros in EU investments in the US, as well as the purchase of defence equipment.