According to the trade deal
Customs cleaning with the USA is burdening German companies
An even larger customs conflict with the USA was avoided. But the agreement found also leads to considerable frustration in the German economy.
The customs compromise between the EU and the USA continues to ensure criticism and uncertainty among German companies. According to a survey by the German Chamber of Commerce and Industry (DIHK), 55 percent consider the agreement as an excessive burden on the European economy and advocate a tough line in further negotiations. Among companies with US business, 54 percent indicated less trade as a consequence. 3,500 companies were interviewed, mostly from industry.
DIHK foreign manager Volker Treier told the German Press Agency: “The new trade policy in the United States, which is aimed at for isolation, is likely to backfire.” Instead of stable economic relationships and an attractive investment environment, the United States is regrettable for customs chaos and an unsafe environment. The strategy of force a re-industrialization through protectionist measures do not work.
Higher customs costs are usually passed on
In the DIHK survey, 17 percent of the companies with US business stated that they are investing there. Less investments in the United States named nine percent. “The US customers will primarily pay for the raised import duties,” explained Treier. According to the survey, 31 percent of companies want to change their handling of US customs costs. Of these, 62 percent plan to pass them on to customers. At the expense of the margin itself, they want to wear 15 percent. The data comes from a special evaluation of a survey presented for the first time at the beginning of August.
US President Donald Trump and EU Commission President Ursula von der Leyen announced the compromise at the end of July. Among other things, a US of 15 percent should apply to most European products. Customs duties on US industrial goods, on the other hand, are to be completely abolished.
“Robust” negotiations from the EU
The DIHK called for the further implementation that a intended reduction in the US tariffs in the car and metal area must be carried out quickly. A mechanism is also necessary to exclude future US tariff increases. “In an emergency, the EU should not shy away from countermeasures and negotiate here robustly,” said Treier.
dpa
Source: Stern
