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Germany Will Lose 300,000 Jobs If Trump Imposes Duties on EU Products

  • January, 15, 2025 - 15:38
  • Other Media news
Germany Will Lose 300,000 Jobs If Trump Imposes Duties on EU Products

TEHRAN (Tasnim) – Germany could lose about 300,000 jobs if US President-elect Donald Trump implements his threats and imposes increased duties on EU products.

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This was reported by the newspaper Suddeutsche Zeitung (SZ) with reference to calculations by the Institute of Macroeconomics and Market Research (IMK) in Dusseldorf, TASS reported.

Trump's duties, if imposed, will largely affect export-oriented Germany, where 28% of its products go abroad. In Germany, 1.2 million jobs depend on exports to the United States. This is more than the number of employees employed in such major industrial sectors in the country as the machinery and automotive industry.

In October, Trump announced during the election campaign that he intended to significantly increase import duties if he won the November presidential election. In his election program, he proposed imposing 10 percent duties on imports of any goods, while imports from China would be subject to 60 percent tariffs, and cars manufactured outside the United States would be subject to 100 percent.

Earlier, Trump announced his intention to impose increased import duties against the EU if Brussels does not increase the volume of purchases of American oil and gas.

 
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Germany Says Trump's Tariffs, Sanctions Destroy Jobs, Growth
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