interview
Foreign traders on Trump’s tariff threat
“It’s about much more than trade”
Trump’s new tariffs would hit the already struggling German economy hard. But from the point of view of the general manager of the foreign trade association BGA, Finkelnburg, giving in to the current dispute is not an option.
Evidence Network: In your opinion, how should the EU react to Trump’s tariff announcement?
Antonin Finkelnburg: The EU must hold its line at this point. Greenland’s freedom, democracy and the rule of law are under threat. They cannot be sacrificed as part of a customs deal. If Greenland were to fall, that would be the first domino, and we don’t know which states will then come into the focus of the USA or China or Russia. Will it be Norway or Iceland? I don’t know it. We have to draw a clear line at this point.
Evidence Network: And how would the tariffs affect the German economy?
Finkelnburg: We can already draw conclusions from last year and the first tariffs: the trade volume with the USA fell by 7.8 percent by November 2025. This is significant. These aren’t the final numbers yet, but you can already tell – it’s a huge drop. New tariffs would make things even worse.
Antonin Finkelnburg is the managing director of the Federal Association of Wholesale, Foreign Trade and Services (BGA). Finkelnburg previously worked for the employers’ association Gesamtmetall.
“We can’t back down anymore”
Evidence Network: How risky is it for the European economy to get into such a trade conflict with the USA?
Finkelnburg: We large foreign traders are flexible. But of course: parts of the industry are very dependent on the American market. This is now our second most important market after China.
But the question is to what extent we can sacrifice fundamental principles of the rule of law in order to achieve better economic goals. I believe this is the line where we can no longer retreat. It is impossible to say that we are still willing to compromise at this point in order to give in to a country that is obviously operating aggressively.
“We can’t accept it,” Antonin Finkelnburg, chief executive of the Foreign Trade Association, said about Trump’s tariff threat
“All tariffs are bad”
Evidence Network: Would counter-tariffs be the expected response from the EU?
Finkelnburg: From our perspective as traders, all tariffs are bad for both sides. But it is to be expected that at least the American-European customs deal will be shelved at this moment or at least will be massively questioned. Because of course an agreement is always based on reliability on both sides – and the reliability on the American side is no longer there. Trump is using tariffs as a political weapon and we cannot accept that.
Evidence Network: If, as expected, there is now resistance to the tariffs in European countries, will the EU make itself vulnerable to Trump?
Finkelnburg: I think we first have to ensure that not only the EU acts together, but also our partners around the world. Trump usually uses the division of individual countries to enforce his will. And in this case, Canada, Australia, Mexico and the EU would actually have to work together to prevent these Greenland annexation plans or buyout plans – whatever you want to call them – from going through.
“US market cannot be replaced overnight”
Evidence Network: Would there be other sales markets for the German economy if the USA collapsed?
Finkelnburg: At such short notice? No. Of course, many companies – wholesale and foreign trade as well as many medium-sized companies – have already started to diversify and look for other markets. But the volume that America represents as a market cannot simply be replaced overnight. In this respect it would be a painful break.
We hope this can be avoided. But in this case that really depends on the US and its behavior and not on European behavior.
Evidence Network: How big is the concern in the German economy?
Finkelnburg: The concerns are different. Of course, there are industries that are very dependent on the American market and that have already suffered greatly. Under the current tariffs on steel and aluminum, we are still at 50 percent, which is also massive. For us, this affects screw manufacturers and importers, for example.
There are other industries that are far less dependent on the USA. In this respect it is distributed very differently. But it’s about more than trade. This is actually about NATO. It’s about reliability, about a Western alliance, which is suddenly being completely questioned by the American side.
Evidence Network: Do you see a future for transatlantic relations?
Finkelnburg: There will always be a future. This year the United States celebrates the 250th anniversary of the signing of its Declaration of Independence. At that time, the colonies declared their independence from a British king who ruled arbitrarily, did not adhere to the rule of law and burdened the Americans with high tariffs and taxes. Maybe it’s time for us Europeans to become a little more independent of the USA this year.
The interview was conducted by Kirsten Gerhard, Evidence Network
