German economists see the triumph of billionaire Donald Trump in the primaries for the presidential candidacy of the US Republican critical. “It is for Germany a political risk to, namely that could increase from next year of protectionism,” said the chief economist at Berenberg Bank, Holger Schmieding. “Any protectionism is for the export-dependent German economy a significant burden.”
the German economy is particularly concerned at the failure of the free trade agreement between the US and Europe TTIP if Trump candidate or even president should be. “TTIP opponents in this country would have to be about Trump really happy because a nationalist and protectionist president will restrict trade between the US and Europe rather than expand,” the president of the Association of Family Business, Lutz Goebel said on Wednesday told Reuters. “This would have significant consequences for the German economy with its many family.”
Trump makes the North American Free Trade Agreement NAFTA for the loss of hundreds of thousands industrial jobs in the US in charge, is declared opponent of the Agreement TTP for the Pacific recently passed and has threatened high punitive tariffs against China and Mexico. “Walking the USA set a bad example, can trigger the international reaction – to the detriment not least the German economy,” warned Schmieding
The United States last year for the main buyers become German export goods, thereby causing France. from which had stood since 1961 continuously at the top. The German exports to the United States soared in 2015 by almost 19 percent to 114 billion euros upwards. An additional boost it might According to experts at the conclusion of TTIP give, break down the barriers to trade and would promote the exchange of goods in addition
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(APA / Reuters)
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