German Firms Abroad See US as ‘Problem Region,’ Survey Shows
A majority of German companies operating abroad are seeing an increase in trade barriers, with the US in particular transformed from a “beacon of hope” into a “problem region,” according to a new survey.
Among just under 2,600 German firms polled by the DIHK industry lobby, 58% said they experienced tighter trade restrictions in recent months — a slight improvement on last year’s 61%. However, they indicated that the key US market is becoming increasingly difficult, with 70% saying they expect a negative impact from US President Donald Trump’s tariff policies.
“The growing trade barriers and protectionist signals from Washington are a cause of great concern for our companies,” Volker Treier, the DIHK’s head of foreign trade, said Thursday in an emailed statement. Half of the companies polled reported that higher tariffs are a strain in the US – up from 24% last year.
The latest DIHK survey was conducted Feb. 24 – March 7, well before Trump’s latest announcements Wednesday, in which he slapped a 25% tariff on auto imports and floated further duties on the European Union and Canada.
His escalating trade actions appear likely to deepen tensions with America’s principle trading partners even ahead of his promised “reciprocal tariffs” on April 2.
Companies polled by the DIHK also highlighted issues with markets in Germany and Europe. Four out of five businesses said they’re held back by bureaucratic hurdles and uncertainties regarding compliance with supply-chain laws, as well as onerous packaging standards and the EU’s system for offsetting the costs of carbon-dioxide emissions.
This article was generated from an automated news agency feed without modifications to text.
