BDI on US tariffs: ‘The EU must utilise its strengths and be able to react flexibly.’

‘The announced tariffs are an unprecedented attack on the international world trade order, free trade and global supply chains. The reasoning for this protectionist escalation is incomprehensible. It threatens our export-oriented companies and jeopardises prosperity, stability, jobs, innovation and investment worldwide.    

The European economy must not become a pawn in the geopolitical power struggle. The European Union is strong when acting as one. This applies to the 27 member states as well as across sectors. The EU has its own instruments for effective countermeasures, which it can utilise for a decisive response. We support the Commission's strategy of remaining ready to negotiate while knowing Europe's strengths and being able to react flexibly.   

German industry has always encouraged fair competition, open markets and partnership-based relations with the United States. The EU must now strengthen its alliances with other major trading partners and should coordinate its response with them. A coordinated response is also needed to counter diversion effects in international trade.’