Globalization was, and is, a key driver of prosperity and economic growth worldwide. The road back to nationalism is a blind alley – both for the United States and for the entire global economy. The economic policy of the new U.S. administration leads to great uncertainty. We must make clear that Europe will not allow itself to be divided, emphasizes BDI's President Dieter Kempf in this interview.
Political Outsiders, Controversial Nominations, Unclear Responsibilities: Donald Trump's Team
While U.S. President Donald Trump has been able to fill several key positions in his cabinet, the road remains long and rocky to a fully functioning administration. The heated debates in the House and the Senate around the confirmation of Trump's candidates, including the confirmation of Supreme Court judge Neil Gorsuch, shows that Republicans and Democrats remain deeply divided.
Ten Cornerstones for Stable Transatlantic Economic Relations
Transatlantic economic relations generate jobs, growth and investment on both sides of the Atlantic. They are a solid foundation for the global economy. For German companies, the United States is the most important export market for goods. However, remarks by President Trump criticizing the EU have led to uncertainty.
German Companies in the United States Stand for Open Markets
German companies with a presence in the United States would like to see more free trade, investment in infrastructure, and an easing of visa requirements. The Representative of German Industry and Trade (RGIT) will continue to promote open and rules-based markets.
Trump’s New Trade Policy Presents Challenges for Germany and Europe
All eyes are on the United States and President Trump’s trade policy. At the centre of attention stand the president’s announcements to renegotiate trade deals, erect new trade barriers, go after countries with large trade surpluses vis-à-vis the United States, and the Border Adjustment Tax. Several of Trumps plans threaten to violate rules of the WTO. Whether or not this will deter the Trump administration remains to be seen. The EU needs to step up its efforts a guardian of open and rules-based free trade. This is emphasized by Andreas Falke (University of Erlangen-Nuremberg) in his guest contribution.
Significant Changes Are Imminent in the Russian-U.S. Relationship under Trump
The United States is an important point of reference for Russian policy. Signals sent earlier by the U.S. administration pointed towards a rapprochement between the two countries; the lifting of U.S. sanctions seemed to look more likely for a while. But the recent domestic and foreign policy developments in the United States have destroyed these hopes for the time being. A strengthening of the WTO’s authority would be important for German business ties with Russia; however, such a development is unlikely under the Trump administration, emphasizes Michael Harms, Managing Director of the Committee on East European Economic Relations.
U.S. President Donald Trump has adopted a clear stance on trade policy. For him, foreign trade is a zero-sum game. But while he has far-reaching powers in trade policy, he will have to rely on Congress in the long run. He can expect to come up against headwinds, including over import duties. This is emphasized by Claudia Schmucker (DGAP).
The Cornerstones of a Strong Transatlantic Economic Relationship
With the accession of Donald Trump to the Presidency, uncertainty is increasingly weighing on German businesses. Yet relations with the United States remain an important pillar of the German economy. German industry has identified 10 cornerstones that have high priority in ensuring the stability and sustainability of transatlantic economic relations.
Make America Great Again? The Impact of Donald Trump’s Election on the U.S. Economy
On 19 December the Electoral College officially confirmed Donald Trump as 45th president of the United States. On 20 January Trump will take the oath of office and officially move into the White House. As in every U.S. presidential election campaign, the economy was a central topic. Is the United States really doing as badly as Trump insisted during the election campaign? What plans does he have to boost the economy? And how likely is his programme going to succeed?
U.S. Trade Policy under Trump: Bad, Worse and Worst – Three Possible Scenarios
During the election campaign, Donald Trump caused a stir with his protectionist rhetoric. Which of his pronouncements will he actually translate into deeds? At least in theory, he could do much of what he said he would do.
In November 2016, Republican Donald Trump was elected as the 45th president of the United States of America. He won the election astonishingly clearly with 306 electoral votes to Hillary Clinton’s 232. Many were surprised by Trump’s victory. There are various explanations for his success.
“We should offer to cooperate with the President-Elect”
Against free trade and in favour of protectionism? The statements made by designated US President Donald Trump during his election campaign have generated considerable unease within German industry. “We should offer to cooperate with the President-Elect on the basis of our excellently functioning transatlantic relationship,” says Daniel Andrich, President and CEO of the Representative of German Industry and Trade (RGIT) in Washington D.C. RGIT is the BDI and DIHK liaison office that works towards deepening German-US business and trade relations.
BDI participates in U.S. consultation on trade deficits
- The U.S. government under President Trump has criticized countries that have a large bilateral trade surplus with the United States. This applies, for example, to China and Mexico as well as Germany.
More Risks Than Opportunities: The Economic-Policy Agenda of the Trump Administration
- Just several days after the inauguration of President Trump, the Dow Jones U.S. Market Index went above 20,000 points for the first time. The stock markets demonstrated a positive initial reaction to the election outcome. However, business has become more and more worried. In the long run, the...
"German industry will continue to play a responsible role in our society"
- In the presence of Federal President Joachim Gauck, Dieter Kempf assumed the presidency of the BDI at the gala evening celebration of German industry. Kempf took the opportunity to warn against political developments in the US.