Trump’s tariffs will cost Germany EUR 290 Billion and more – Institut Deutsche Wirtschaft

Donald Trump’s Liberation Day, the day he introduced US tariffs on imports from all over the World to the US have enormous consequences for the German economy.

The Institut Deutsche Wirtschafts expects costs of annually EUR 290 Billion per year, or an annual average of GDP loss of 1.6%. The EU’s cumulative expected losses may be EUR 780 billion to EUR 1.1 trillion.

In addition, the trade war between the US and China will additionally cost dearly to Germany: German costs of the US tariffs will be EUR 150 billion over four years, and German costs of the Chinese tariffs will be EUR 200 billion over four years .. in addition.