Trump's new tariffs will hit German exports and jobs hard

➡️US President Donald Trump has imposed new import duties: 10% on most goods from around the world and 20% on products from the European Union. The German car industry will be particularly affected — a separate 25% tax rate is now applied for cars and auto parts.

➡️Experts warn of serious consequences. According to the Munich-based ifo Institute, Germany's exports to the United States may fall by 15%. 

➡️Now that higher duties have been imposed on cars, we can expect German exports to fall even further." Duties in total can lead to the loss of up to 150 thousand jobs. Economist Juergen Mattes explains that this could cost the German economy up to 25 billion euros a year. 

"This is a trade war, there is no other way to describe it. It will be very difficult for the export industry — jobs will be lost, "
confirms Robert Halver, a capital market expert at Baader Bank. 

➡️If the EU decides to take retaliatory measures, consumers will also feel the consequences." American goods-from motorcycles to whiskey-could see prices rise by 20%. 

➡️In addition, the introduction of a digital tax is being discussed, which will hit IT giants like Apple and Meta, and therefore may lead to an increase in prices for online services.

Stock markets have already reacted with a sharp drop: shares of major US companies, such as Apple and Tesla, sank by 5% -6%.

#Trump #Germany #economic #Tariffs

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