Higher tariffs
Economists see Germany as unprepared for Trump
After his re-election as US President, Donald Trump wants to repeat the “America First” program of his first term in office – with greater impact. Germany’s economists are more than just worried.
A large majority of German economics professors see the country as ill-prepared for Donald Trump’s upcoming second term as US President. In the panel of economists at the Munich Ifo Institute and the “FAZ”, 85 percent of the 180 professors surveyed answered that there were insufficient preparations in Germany for the announced tariff increases or the expected negative effects of a Trump administration on cooperation in the field NATO or climate protection. The majority of economists attributed the failures to the Berlin traffic light government.
The economists at German universities are therefore pessimistic in every respect about the effects of the second Trump administration on Germany and Europe. 89 percent expect that the consequences for economic growth in Germany will be rather negative or even very negative. “The German economy is strongly export-oriented and will therefore be hit particularly hard by the planned protectionist trade policy under Trump,” said Ifo economist Niklas Potrafke.
In addition, 90 percent of scientists surveyed believe that Trump’s re-election will not bode well for international action against climate change. 80 percent also expect negative consequences for international security and NATO.
dpa
Source: Stern
