New Trump Tariffs Risk Plunging Germany into Recession – Expert
Euro bank notes lie on a table in counter of a bank in Dresden, Germany, Monday, June 22, 2009
Germany could slide into a recession in 2026 due to new US tariffs, Head of the IFO Institute for Economic Research Clemens Fuest said.”The increase in tariffs will strike the German automotive industry, which is already in a precarious position. Should this lead to a renewed trade war [between the EU and the US], Germany would face the threat of a recession in 2026,” Fuest said.
US President Donald Trump previously announced his intention to impose 25% tariffs on cars and trucks from the European Union starting next week, arguing that the bloc is failing to honor its trade agreements with the United States.
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