Trump tariffs could threaten up to 300,000 German jobs

According to a newspaper, the tariffs announced by US President-elect Donald Trump are threatening 300,000 jobs in Germany. In an advance report, the “Süddeutsche Zeitung” (Wednesday edition) cited calculations by the Institute for Macroeconomics and Business Cycle Research (IMK).

Accordingly, the number applies in the event that the Republican carries out his threat of tariffs of ten to 20 percent and other countries respond with counter tariffs.

A second scenario deals with the case that Trump introduces tariffs at the bottom of the announcements. The IMK then assumes that 200,000 jobs will be lost in Germany.

As the paper further reported, citing calculations by the Prognos Institute, 1.2 million jobs in Germany depend on exports to the USA. These are ten percent of all jobs that are directly and indirectly dependent on exports. (Reuters)