**Berlin**: The Deutsche Industrie- und Handelskammer raises alarms over US tariff strategies, warning they may harm both German companies and American credibility as a trading partner. Volker Treier calls for decisive EU action amidst concerns that protectionism jeopardises jobs and the economy.
The Deutsche Industrie- und Handelskammer (DIHK) has voiced significant concerns regarding the unpredictable tariff policies implemented by US President Donald Trump, warning of potential adverse effects not only for German companies but also for the United States itself. Volker Treier, the head of international trade at DIHK, highlighted the detrimental impact of the erratic tariff strategies on Germany’s export-driven economy. Speaking to the Funke Mediengruppe newspapers, Treier remarked, “The constant back-and-forth in tariff policy is poison for the international German economy.” He added that the uncertainty generated by these policies directly and indirectly influences the numerous global trade relationships that the trade-oriented German economy relies upon.
Treier went on to caution that the current approach could weaken the credibility of the United States as a reliable trading partner. He stated, “The USA is currently losing credibility as a reliable trade partner – and in the long term, possibly as a secure market for investments from European companies.”
This statement comes in the wake of President Trump’s recent decision to suspend tariffs on imports from Canada and Mexico, which had only just taken effect. Furthermore, Trump has signalled intentions to impose tariffs on imports from the European Union in the upcoming weeks. The US remains the most important trading partner for both the EU and Germany.
Treier articulated the broader implications of protectionism and trade conflicts, stating that they cost companies vast sums of money, jeopardise jobs, and undermine the much-needed planning security for businesses. According to a recent survey conducted by the German Chambers of Commerce in the USA, 81 per cent of German companies operating in the US believe their operations are being negatively affected by additional tariffs.
In light of these developments, Treier has urged the EU to take decisive action. He said, “We need open markets, targeted investments in future technologies, and a robust trade policy.”
Source: Noah Wire Services
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