German Chancellor Friedrich Merz reacts next to a power generating bicycle, at the German Chamber of Commerce and Industry in Berlin, on May 7, 2026. (Photo by John MACDOUGALL / AFP via Getty Images)

Trader Edward McCarthy, center, works on the floor of the New York Stock Exchange, Tuesday, May 5, 2026. (AP Photo/Richard Drew)

German Chancellor Friedrich Merz addresses guests at the German Chamber of Commerce and Industry in Berlin, on May 7, 2026. (Photo by John MACDOUGALL / AFP via Getty Images)

German Chancellor Friedrich Merz addresses guests at the German Chamber of Commerce and Industry in Berlin, on May 7, 2026. (Photo by John MACDOUGALL / AFP via Getty Images)

German Chancellor Friedrich Merz addresses guests at the German Chamber of Commerce and Industry in Berlin, on May 7, 2026. (Photo by John MACDOUGALL / AFP via Getty Images)

German Chancellor Friedrich Merz addresses guests at the German Chamber of Commerce and Industry in Berlin, on May 7, 2026. (Photo by John MACDOUGALL / AFP via Getty Images)

German Chancellor Friedrich Merz addresses guests at the German Chamber of Commerce and Industry in Berlin, on May 7, 2026. (Photo by John MACDOUGALL / AFP via Getty Images)

German Chancellor Friedrich Merz addresses guests at the German Chamber of Commerce and Industry in Berlin, on May 7, 2026. (Photo by John MACDOUGALL / AFP via Getty Images)