From the perspective of the German foreign trade industry, communication in the transatlantic customs dispute brings preliminary certainty – but also negative effects.
The German export industry has described the fundamental agreement to defuse the customs conflict between the European Union and the USA as a painful compromise. “For many of our dealers, the customs surcharge means an existential threat,” said the Federal Association of Wholesale, Foreign Trade, Services (BGA) in Berlin. Even if there is now security over the trade conditions, supply chains would change and increase prices. The agreement with the United States will also cost growth, prosperity and jobs in Germany.
EU Commission President Ursula von Leyen and US President Donald Trump had announced the understanding after a top meeting in Scotland. Trump’s information is said to be 15 percent of the customs set to most imports to the United States, including for the automotive industry.
Source: Stern
