Foreign trade
German exports to the USA are collapsing
The EU is still negotiating with the United States about new customs sets. But the uncertainty is already causing major problems for German exporters.
The German foreign industry suffers from the customs of the tongue on the important US market. Exports to the United States fell by 7.7 percent in May compared to April, as the Federal Statistical Office reports on the basis of preliminary data. The value of the goods was 12.1 billion euros. That was the lowest value since March 2022. Compared to May 2024, the decline was even 13.8 percent.
Overall, German exports fell by 1.4 percent in May compared to the previous month of calendar and season. Imports also decreased by 3.8 percent. Compared to the same month of May 2024, exports increased by 0.4 percent and imports by 4.2 percent.
With a value of 129.4 billion euros, the exported was significantly exceeded the imports of 111.1 billion euros. The foreign trade surplus grew to 18.4 billion euros after 15.7 billion in April.
The EU Commission is currently conducting talks about a future customs regulation with representatives of the US government. The US government announced on Monday that it was still to forego new tariffs until August 1st. The United States had previously given a deadline until July 9th.
dpa
Source: Stern
