Trade policy
Survey: Customs deal brings new concerns of German companies
Breathe off? Because of: According to a survey by the German Chamber of Commerce and Industry, the trade deal with the United States is more concerned with many companies in this country.
Instead of relief, the customs deal with the USA provides German companies with additional concerns. This emerges from a current survey by the German Chamber of Commerce and Industry (DIHK). Over half (58 percent) expect further burdens in the future. It is even three quarters for companies with direct US business (74 percent). Only five percent of the companies surveyed expect positive effects.
“This agreement may have been politically necessary, but for many companies in Germany it is still a bitter pill,” says Dihk general manager Helena Melnikov. “It brings additional loads instead of relief: higher tariffs, more bureaucracy and falling competitiveness.”
The EU and the United States had recently reached an agreement in the customs dispute. The Agreement between Trump and EU Commission President Ursula von der Leyen provides for a dial of 15 percent for most EU imports to the USA. August 7th is the new start date.
Negative effects are already noticeable
The previous US trade policy already has a noticeable impact for almost three quarters of companies (72 percent). According to the DIHK survey for companies with direct US business, the situation is particularly critical: 89 percent currently see negative effects. As the greatest burden, these companies state the persistent trade policy uncertainty – and concern about new tariffs. 80 percent indicate this as a central problem. The basic customs set of ten percent and the upcoming increase to 15 percent worries 72 percent.
Commercial uncertainties also leave traces in the global market strategy: According to the DIHK survey, 54 percent of companies with direct US business want to trade less with the USA. 31 percent report a changed handling of customs costs – 84 percent of them state that they are at least passing on to their customers in the United States. In contrast, customs policy has no influence on its US business for a fifth of the companies.
The data is based on an online survey. According to DIHK, 3,355 companies took part between July 31 and August 4.
dpa
Source: Stern
