World economy under pressure: protection duties and their consequences for Germany!

World economy under pressure: protection duties and their consequences for Germany!

The global economy has proven to be remarkably robust, despite the shocks that they have shaken in recent years. This knowledge comes from Frank Herrmann, an experienced foreign trade expert at SIHK, who points to a number of challenges, including delivery bottlenecks, rising energy prices and historical inflation. Additional leading increases by central banks also put economic recovery under pressure. Nevertheless, world production has only been slightly slower in the past two years than before the pandemic, which, according to ruhrkanal.news

Currently the announcement of massive protection tariffs from Donald Trump raises questions about the future world economy. The economic development, especially when the new US president took office, could have far-reaching consequences. This topic will also be in the focus of the SIHK export forum on February 5, 2025, where a large number of relevant economic questions are discussed.

Focus on topics of the SIHK export forum

The upcoming export forum will treat several important topics. In addition to the measures of the new US president, the economic recovery of China and the role of developing and emerging countries in the global economy will focus. The development of the European market is also discussed. Prof. Dr. Klaus-Jürgen will be happy to analyze developments in the main sales markets, while a discussion with SIHK President Ralf Stoffels and representatives of regional companies is initiated.

Participation in the export forum is free of charge, but subject to registration. This offers interested parties the opportunity to deal directly with current topics.

challenges through new trade tariffs

Another aspect that complicated the situation is the additional taxes on electric vehicles from China imposed by the EU. These measures should act as compensation duties, since Chinese car manufacturers benefit from subsidies that give them advantages in the competition on the European market. Samina Sultan from the Institute of German Economy describes these steps as a "red card" for the trading partner China.

historical examples of such special tariffs can be found in various sectors, from solar cells to semiconductors to food products. The current trade conflicts are increasingly referred to as "trade wars", which indicates the escalating nature of economic tensions.

While the global division of labor has so far brought advantages, China is no longer just as a "workbench in the world", but has caught up economically and has established itself as an important player. The United States is pursuing a policy under the Presidency of Trump that is strongly relating to “America First”. This strategic orientation could significantly burden Germany, which depends heavily on the USA and China. As Ulrich Kater from Dekabank states, Germany's growth could be endangered by strong punitive tariffs, especially in the mechanical engineering, plant engineering and chemistry sectors. These developments could lead to higher prices for consumer goods and signal the possible end of free trade, which many economists already fear.

Overall, it can be seen that the upcoming economic changes could have massive effects on international trade and domestic economy. Against the background of these developments, the SIHK export forum is required more than ever as a platform for discussion and analysis of the current economic issues.