2024-11-13 13:29:09
Politics
Economy

NRW Politicians Address US Tariff Concerns

North Rhine-Westphalia's state parliament recently engaged in a heated debate over the implications of Donald Trump's election as US president. Lawmakers from both major parties underscored the significance of German-American ties, particularly given the presence of 1,700 US firms in the region. However, they criticized the federal government for inadequate preparation. CDU and SPD representatives defended maintaining connections with various US political factions. Meanwhile, the Greens expressed alarm over environmental and security repercussions, citing the US's exit from the Paris climate accord and renewed fossil fuel exploration. Concerns also surfaced about potential US pressure on allies to distance themselves from China. The SPD advocated for a debt-financed investment strategy to counterbalance these challenges.

Moreover, NRW's government emphasized the critical nature of security cooperation with the US, noting its role in thwarting terror threats in Germany. The US remains NRW's foremost trade partner outside Europe. Yet, proposed tariffs by Trump pose a risk to global supply chains and could prompt businesses to relocate to the US. Bundesbank President Joachim Nagel warned that such tariffs might lead to a recession in Germany, with significant impacts on exports and employment.

DER SPIEGEL
13. November 2024 um 07:38

RWE Fears for Wind Projects After Donald Trump's Election Victory and Plans Share Buyback - DER SPIEGEL

Environment
Politics
Economy
Finance
RWE is concerned about delays in offshore wind projects in the USA; the establishment of the hydrogen economy in Europe is being delayed. The company plans share buybacks of up to 1.5 billion euros to create value for shareholders.
gmx
13. November 2024 um 11:24

Bundesbank: Trump's Tariff Plans Would Hit Germany Hard

Politics
Economy
According to Bundesbank President Joachim Nagel in the weekly newspaper "Die Zeit", the tariff plans announced by Donald Trump of 10-20% tariffs on EU imports and 60% on imports from China could hit Germany hard. This could cost the economy up to 1% and even lead to a decline. According to the Munich-based Ifo Institute, German exports to the USA could decline by 15%. The federal government expects the GDP to shrink slightly in 2024. Nagel is also concerned about the labor market, as industrial..
tz
13. November 2024 um 11:23

Bundesbank: Trump's Tariff Plans Would Hit Germany Hard

Politics
Economy
Bundesbank President warns: Trump's tariff plans could cost Germany 1% of economic output; German economy is already weakening.
t-online
13. November 2024 um 11:22

Bundesbank: Trump's Tariff Plans Would Hit Germany Hard

Economy
Politics
Bundesbank President Joachim Nagel warns that Trump's tariff plans could hit Germany hard; the Ifo Institute estimates that German exports to the USA could decline by 15%.
CW

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