{"id":135381,"date":"2024-11-14T09:05:26","date_gmt":"2024-11-14T07:05:26","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/germany-is-facing-the-tariff-man-how-europes-biggest-economy-could-lose-out-under-trump-plans\/"},"modified":"2024-11-14T09:05:26","modified_gmt":"2024-11-14T07:05:26","slug":"germany-is-facing-the-tariff-man-how-europes-biggest-economy-could-lose-out-under-trump-plans","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/germany-is-facing-the-tariff-man-how-europes-biggest-economy-could-lose-out-under-trump-plans\/","title":{"rendered":"Germany is facing the \u2018tariff man\u2019: How Europe\u2019s biggest economy could lose out under Trump plans"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/135381\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>The German economy, already in decline, could be about to lose 1% of GDP due to the trade tariffs, promised by US President-Elect Donald Trump. The German economy, although still the biggest in Europe, could be derailed by US President-Elect Donald Trump\u2019s policy agenda, promising hefty trade tariffs which could cost 1% of Germany\u2019s GDP. Throughout his campaign, Donald Trump has been talking about 10-20% blanket tariffs on imports, including those from Europe. Even though a trade tariff, a tax levied on foreign goods as they enter a country, would be paid by Americans, it would ultimately contract the market for foreign products, according to experts.<\/p>\n<p>\u201cGermany is particularly exposed to the blanket import tariffs that Trump has threatened,\u201d Emily Mansfield, Regional Director for Europe at Economist Intelligence Unit (EIU), said to Euronews Business, adding that the country \u201cis a highly export-oriented economy, and runs a large trade surplus with the US.\u201d Just before the self-proclaimed tariff man Donald Trump was re-elected, German exports reached their highest levels of goods to the US in decades, according to the Federal Statistical Office of Germany. Germany ran a \u20ac63.3bn trade surplus with the US in 2023, when nearly one-tenth of German exports went to the US, worth \u20ac157.9bn. The potential damage Trump\u2019s tariffs would bring to the German economy is feared to equal 1% of the GDP.<\/p>\n<p>&#8220;If the tariff plans are implemented, it could cost us one percent of economic output in Germany,&#8221; German Bundesbank President Joachim Nagel told German newspaper Die Zeit, adding that \u201cthat is painful, especially since the German economy is not growing at all this year and will probably only grow by less than one percent next year. If the new tariffs are actually imposed, we could even slip into negative territory.&#8221;\u00a0 For context, 1% of German GDP translated to \u20ac42bn in 2023. However, over 4 years of the Trump Presidency, Germany could experience a loss in GDP of over \u20ac127bn-180bn, according to a report by the German Economic Institute (counting a 10%-20% tariff on imports to the US from Europe).<\/p>\n<p>Even without any negative prospects, the German economy is already struggling, with global demand squeezing the export-oriented country\u2019s output, the German manufacturing sector in crisis &#8211; and the resulting impact of the energy crisis triggered by the war in Ukraine. Moreover, the country has to contend with the collapse of its government and the snap elections scheduled for February 2025. There are expectations, even from the federal government, that the German economy is going to shrink slightly this year. US investment bank Goldman Sachs also expects German GDP to contract by 0.1% this year and grow by 0.5% and 1% respectively in 2025 and 2026.<\/p>\n<p><a rel=\"noopener\" href=\"https:\/\/www.euronews.com\/business\/2024\/11\/14\/germany-is-facing-the-tariff-man-how-europes-biggest-economy-could-lose-out-under-trump-pl\">Read more&gt;&gt;<\/a><\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.euronews.com\/business\/2024\/11\/14\/germany-is-facing-the-tariff-man-how-europes-biggest-economy-could-lose-out-under-trump-pl\">Euronews<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/vaufien\/germany-is-facing-the-tariff-man-how-europes-biggest-economy-could-lose-out-under-trump-plans\/\">Germany is facing the \u2018tariff man\u2019: How Europe\u2019s biggest economy could lose out under Trump plans<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[1038,3873,606,607,608],"class_list":["post-135381","post","type-post","status-publish","format-standard","hentry","category-news","tag-germany","tag-trump","tag-vau_viikkokatsaus","tag-vauen","tag-vaufien"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/135381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=135381"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/135381\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=135381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=135381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=135381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}