Ministry warns German exposure to tariff uncertainty 'exceptionally high'
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FILE PHOTO: Panama-flagged container ship "Ever Goods" is seen at the loading terminal "Burchardkai", in the port of Hamburg, Germany, February 8, 2025. REUTERS/Fabian Bimmer/File Photo
BERLIN (Reuters) - German exports and industrial production are both in line for considerable headwinds as a result of U.S. President Donald Trump's tariff policies, the German economy ministry warned on Monday in its monthly report.
"Due to the U.S. tariff policy, uncertainty about the development of German export trade is currently exceptionally high," the report for April said, adding that there was no recovery in demand expected amid rising protectionism.
On industrial production, the report said "a renewed, noticeable weakening" was expected in the coming months as tariffs add pressure on top of declining order books.
(Writing by Rachel More, Editing by Miranda Murray)
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