German Industry and Trade Association Warns of Severe Consequences for the German Economy from Trump’s US Trade Policy
The German Industry and Trade Association (DIHK) has warned the next German government of immediate negative consequences for the German economy from the trade policy of the new US President, Donald Trump. “The effects of new US tariffs would be grave for the German economy” said DIHK Managing Director Helena Melnikov in an interview with the Rheinische Post.
“A trade war knows only losers. Companies lose markets, consumers pay higher prices, and global well-being is endangered” she warned. “In Germany, one in four jobs depends on exports, and in the industry, it’s one in two” Melnikov said.
“Instead of waiting, we should act proactively – through a strategic trade policy against Trump, the expansion of international partnerships, and better framework conditions for our companies” she urged. “We should consistently represent our interests and seek a dialogue and common solutions with the US” the DIHK Managing Director said.
“The EU must set more emphasis on multilateral solutions and conclude trade agreements with other economic regions like India and Indonesia” she said.
The decline of the Arctic ice cap could make Greenland a strategic hub for global trade routes, similar to the North Passage along the Russian Arctic coast. “To ensure security and stability for investors, transatlantic partners like the US and Europe must act in harmony with international law” Melnikov cautioned.