„German industry will have to prepare for future strong headwinds from Washington. We do not have enough confidence that this will change the current protectionist course of US trade policy. Many Democrats support the trade agenda of the President. The US government’s current path of confrontation is and remains a threat to the global economy.
An escalated trade conflict does not benefit anyone, even US companies. It is merely a matter of time until the punitive tariffs imposed by the United States negatively impact the domestic economy.
National go-it-alone efforts and tariffs under the pretext of national security are wrong. European exports do not endanger the national security of the USA. The USA should constructively engage in reforming the WTO and helping to create modern trade rules.“