German advisers warn of higher U.S. tariff risks after midterms
Germany's export outlook faces renewed trade uncertainty as Washington's protectionist stance is unlikely to ease after the U.S. midterm elections. The warning points to possible pressure on German shipments to the U.S. market, which had recently shown signs of improvement partly due to the AI boom.
Highlights
- Gabriel Felbermayr of the German Council of Economic Experts warns U.S. midterm results unlikely to soften U.S. trade policy, increasing tariff uncertainty.
- The council's annual report highlights that tariff issues with China may escalate as early as the beginning of next year as certain deadlines expire.
- Felbermayr indicates recent improvement in U.S. demand for German exports, partly driven by the AI boom, may reverse if tariff risks increase.
Tariff uncertainty clouds German export outlook
As reported by Reuters, Gabriel Felbermayr, a member of the German Council of Economic Experts, says the U.S. midterm outcome is unlikely to produce a softer trade policy in Washington and could instead raise uncertainty over tariffs.Speaking during the presentation of the five-member council's annual report on Wednesday, Felbermayr says the issue could come to a head as early as the beginning of next year, particularly in relation to China, as certain deadlines are set to expire.
Potential cooling in U.S. demand
Felbermayr says the shift matters for Germany's export sector because the U.S. market had improved over the last two or three months, with German companies partly benefiting from demand linked to the AI boom.He warns that this recent improvement could fade if tariff risks rise further, adding another layer of uncertainty for German exporters with exposure to the U.S. market.
In earlier coverage, we examined the WTO warning that Middle East conflict and geopolitics could reshape global trade flows.
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