Economists predict a 15% drop in Germany's exports due to potential Trump tariffs, with a 0.25% long-term GDP reduction.

Economists warn that a potential re-election of Donald Trump could severely harm Germany's economy, predicting a 15% drop in exports due to proposed tariffs. The automotive and pharmaceutical sectors would be particularly affected, with exports to China also declining by nearly 10%. The Ifo Institute estimates that Trump's tariffs could lead to a long-term GDP reduction of 0.25%, compounding existing economic struggles since the pandemic.

September 23, 2024
5 Articles