Trump's Tariff Plans Threaten German Economy

New tariffs on European imports could cost Germany 1% of its economic output, warns Bundesbank President.

Donald Trump has announced plans for tariffs of 10 to 20 percent on European imports, raising concerns of a trade war.
Bundesbank President Joachim Nagel warns that these tariffs could lead to significant economic losses for Germany.
The German economy, already experiencing slow growth, could suffer further with a potential 15% drop in exports to the US.
Economists fear that the tariffs could push Germany's economic growth into negative territory.
Nagel also expressed concerns about the German job market, noting potential difficulties in replacing industrial jobs with service sector positions.