Trump's Proposed Tariffs Could Endanger 300,000 German Jobs
Economic reports warn of significant job losses in Germany if President-elect Donald Trump enacts steep import tariffs and triggers retaliatory measures.
- German exports to the U.S. support approximately 1.2 million jobs, with 10% of export-dependent jobs tied to the American market.
- Economic models predict that up to 300,000 German jobs could be lost if Trump imposes tariffs of 10-20% and other nations retaliate with counter-tariffs.
- In a less severe scenario, where Trump implements tariffs at the lower end of his proposals, Germany could still face a loss of 200,000 jobs.
- Trump's tariff plan includes a 10% baseline on global imports, with higher rates of 60% on Chinese goods and 25% on imports from Canada and Mexico.
- Experts caution that the tariffs could disrupt global trade flows, increase costs, and provoke retaliatory measures against U.S. exports.