Chancellor Friedrich Merz on Thursday said Germany, Europe's largest economy, was ready to take over a greater leadership role on future trade agreements as the United States and the EU race to reach a trade deal before a July 9 deadline.

Friedrich Merz took office just weeks ago, and while he and president trump have spoken on the phone since then, this will be the first time they've met in person.

Germany is the largest economy within the EU, and taken together, the EU accounts for even more trade with the U.S. than China.