March 3 (UPI) -- The cost of war with Iran and increased U.S. tariffs appeared to be at the top of German Chancellor Friedrich Merz's agenda Tuesday as he met with U.S. President Donald Trump at the White House in Washington, D.C.
Speaking to reporters in the Oval Office, Merz said he's concerned about the economic impact of U.S.-Israeli airstrikes on Iran that began Saturday. Retaliatory attacks by Iran has embroiled multiple Middle East nations in the conflict and effectively ended transit through the Strait of Hormuz, CNN reported.
Three days after the initial strikes, the United States had its largest one-day increase in oil prices since 2005 as stocks fell.
"This is true for the oil prices, and this is true for the gas prices, as well," Merz said of the impact of the conflict.
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