In Germany, while the future of economic relations with the United States under the chairmanship of Donald Trump is a matter of debate, experts say that if Trump maintains its conservative stance and implements policies expressed in the election campaign, the German economy and foreign trade may suffer.
Unexpectedly, Republican Party candidate Donald Trump won the US elections in Germany anxiously. While there are strong commercial ties between the two countries, about 2.5 per cent of Germany’s employment is directly or indirectly dependent on exports to the United States. This corresponds to more than 1 billion jobs.
Approximately 630 thousand German workers now work in companies managed by US firms. Thus, a total of more than 1.5 million jobs in Germany are connected to the business with the United States.
Experts from international financial institutions say that the German economy and foreign trade may suffer if Trump applies policies before the election.
“With Trump the German economy can take a hit”
Responding to questions from AA reporters on the subject, ING Group German Senior Economist Carsten Brzeski, together with Trump, said the German economy appears to be capable of a blow.
Brzeski argued that the policies that Trump announced during the election campaign could put Germany at risk, saying, (If Trump really applies ‘America First’ strategy with protective elements, it is likely that not only Germany’s exports but also domestic investment will suffer. ) Expression.
Recalling that last year, the US became the most important trading partner of Germany for the first time in more than 10 years, Brzeski noted that the “America First” strategy would create financial difficulties for German exporters.