German business leader says Trump tariff policy leading to crisis
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German business leader says Trump tariff policy leading to crisis
Christian Kullmann, chief executive of Evonik, says US President Donald Trump’s policies are leading to a global crisis. “The permanent threatening of new tariffs is taking us to the edge of a global economic crisis,” he told Germany’s Handelsblatt business daily. Trump has announced a 30% tariff on imports from the EU effective on August 1.
“The permanent threatening of new tariffs is taking us to the edge of a global economic crisis,” Kullmann told Germany’s Handelsblatt business daily in remarks published on Sunday.
Business uncertainty in Europe would persist even in the event of agreement in the current conflict over tariffs between the United States and the European Union, Kullmann predicted.
“Uncertainty and fear of what this administration could do next is rife all over the world,” he told the newspaper.
How long any deal between the EU and US would last was uncertain, Kullmann said. “I’m sure that US politics will remain changeable and that uncertainty for the global economy will increase further,” he added.
Trump has announced a tariff of 30% on imports from the EU effective on August 1. Talks are under way to prevent this, with Brussels having prepared countermeasures in case no negotiated solutions can be found.
Kullmann said that EU businesses and politicians should show strength.
Chancellor Friedrich Merz is meeting German business leaders for an investment summit in Berlin on Monday with a view to boosting investment in Germany after three years of stagnating growth.
According to informed sources, some 30 company heads will be present, but Kullmann is not among them.
German business leader says Trump tariff policy leading to crisis
Christian Kullmann, chief executive of Evonik, says U.S. President Donald Trump’s back-and-forth tariff policies are leading to a global crisis. “The permanent threatening of new tariffs is taking us to the edge of a global economic crisis,” he told Germany’s Handelsblatt business daily. Trump has announced a tariff of 30% on imports from the EU effective on August 1.
US President Donald Trump’s back-and-forth tariff policies are leading to a global crisis, Christian Kullmann, chief executive of Evonik, Germany’s second largest chemicals company, has said.
“The permanent threatening of new tariffs is taking us to the edge of a global economic crisis,” Kullmann told Germany’s Handelsblatt business daily in remarks published on Sunday.
Business uncertainty in Europe would persist even in the event of agreement in the current conflict over tariffs between the United States and the European Union, Kullmann predicted.
“Uncertainty and fear of what this administration could do next is rife all over the world,” he told the newspaper.
How long any deal between the EU and US would last was uncertain, Kullmann said. “I’m sure that US politics will remain changeable and that uncertainty for the global economy will increase further,” he added.
Trump has announced a tariff of 30% on imports from the EU effective on August 1. Talks are under way to prevent this, with Brussels having prepared countermeasures in case no negotiated solutions can be found.
Kullmann said that EU businesses and politicians should show strength.
Chancellor Friedrich Merz is meeting German business leaders for an investment summit in Berlin on Monday with a view to boosting investment in Germany after three years of stagnating growth.
According to informed sources, some 30 company heads will be present, but Kullmann is not among them.
Source: https://dpa-international.com/economics/urn:newsml:dpa.com:20090101:250720-99-505651/