“Difficult customer”
German industrial president: USA are dependent on Europe
The EU may and should be confident in the trade conflict with the USA, says the BDI boss. Because the European countries have a lot to offer that the United States cannot simply replace.
From the perspective of German industrial president Peter Leibinger, the United States is dependent on Europe in some economic sectors. He cited mechanical engineering as an example: “Around 70 percent of the precision parts that are produced in America are manufactured on German or European machines,” said the head of the Federal Association of German Industry (BDI) of the Funke media group. “There are basically no more American machine tool manufacturers,” he added.
Make offers and if necessary impose against tariffs
Leibinger described the United States as a “difficult customer” with which Europe should go into dialogue and to which it should make offers. At the same time, the EU must know its “instruments” and use it if necessary. “America depends on Europe in many things and will remain,” said the BDI President.
The Process Sensorism performed the BDI President as a further area in which the USA depends on Europe: “Which is needed for every refinery, every pharmaceutical work-this does a handful of companies from Germany”. Counter tariffs should only be considered as the last remedy that negotiations must be made.
dpa
Source: Stern
