With a certain serenity, the financial markets responded to Trump’s announcement that it has to raise tariffs of 30 percent. However, the economy is worried, especially mechanical engineering.
Take a hard time or wait? Opinions in politics and business diverge how the European Union should react to the customs threat of American President Donald Trump. The EU hesitates and continues to focus on negotiations. There should be no counter -tariffs for the time being.
“The problem with tariffs is that everyone will lose in a trade war,” said Sonja Marten, analyst of the DZ-Bank in conversation with Tagesschau24. “If we collect tariffs as a countermeasure, we will have to pay a price for it. And that is the consideration that you have to hit now.”
Financial markets are left behind
A certain serenity is shown by the financial markets. The DAX started the new week with losses, but panic is no trace of the stock exchange.
A getting used to the markets has occurred, says Sonja Marten: “A few months ago, when such announcements came, then we were hectically discussed in the offices: What do we do with the forecasts? Do we have to make adjustments?” In the meantime, according to Marten, one has become more relaxed. It makes sense to wait. “But it will be preserved, this topic,” emphasizes the DZ analyst.
Merz: tariffs would Export economy “Meet the mark”
In contrast, the mood in the German economy is tense. The Federal Association of German Industry said that the tariffs announced by Trump for the EU were an alarm signal on both sides of the Atlantic. There is a great concern in the economy that Trump will make you serious from 1 August and that negotiations between the EU and the USA will remain unsuccessful.
In the ARD-Summer interview said Chancellor Friedrich Merz with a view to possible import duties of 30 percent: “If that would come, we could put large parts of our efforts around economic policy at the back. Because that would overlap all and would hit the German export industry to the market.”
German mechanical engineering alarmed
German mechanical engineering is an industry that would be massively affected by high tariffs. The United States is the most important export market for the industry. Last year, companies sold investments and machines worth more than 27 billion euros to the United States.
The uncertainty is currently the biggest problem, says Oliver Richtberg, head of the foreign trade at the VDMA industry association. It is currently assumed that the customs threat to Trump’s negotiation tactics, but: “If the 30 percent really come, the hardest would hit the companies that have a competitor in the USA,” said Richtberg.
However, the head of the VDMA outdoor industry points out that many mechanical engineering products are not produced in the United States: “If all other countries also get 30 percent tariffs or 25 percent tariffs, then our competitiveness is not less than that of others.”
Hope on Negotiating solution
There is still hope among the mechanical engineers that Trump will steer in the end and that the US government does not put the threat of 30 percent import duties into practice.
Stay a good two weeks to come to a solution in the dispute with the USA – provided that it remains with the deadline of August 1st. It is already clear: trading in the USA should not be easier. For the long -awaited recovery of the German economy, this is a new damper.
