Significant impact on the German economy would have the imposition dictatorial 30% from the US to products imported by the European Union, estimates the Bundesbank In her last report.
“If the 30% announcement of EU imports enter into force on August 1st, this will create a significant risk of recession for the economy, Bundesbank warns in its last monthly report and points out that German exporters will face short -term” US “. According to the bank, the German economy has lost its momentum again in the spring, while GDP will probably remain stagnant in the second quarter of the year.
Last month, the Central Bank predicted stagnation for the economy in 2025, but its calculations were based on 10% duties from the US. “The uncertainty about duties harm the economic growth and the EU’s goal should be a quick deal with the US, but not at any price,” Bundesbank chief Joakim Nagel told Handelsblatt.
In a different spirit, the Institute of Macroeconomics and Economic Circle (IMK) assesses the possible consequences of US duties as comparative mild. A 30% rate on the EU imports “would burden Germany’s economic recovery, but would not crush it,” the IMK said in a related investigation.