Overview

• Statistical office data show July shipments to the United States at €11.1 billion, down 7.9% from June and 14.1% year on year, marking a fourth straight monthly decline.
• Total German exports reached €130.2 billion in July, slipping 0.6% from June but rising 1.4% versus a year earlier, while imports were €115.4 billion, down 0.1% on the month and up 4.3% on the year.
• Exports to China fell 7.3% to €6.4 billion in July and trade with the United Kingdom also weakened, signaling soft demand across key partners.
• Reports link the slump to higher U.S. duties, with most EU goods facing a 15% tariff since August and analysts noting a pull‑forward of shipments before the increase.
• Global trade strains are evident as China’s exports to the U.S. dropped about 33% in August, and BRICS leaders scheduled a video conference to discuss U.S. trade policy.