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Is there a risk of billions in damage? Aiwanger sounds the alarm for Bavaria's economy!
Bavaria's Minister Aiwanger warns of billions in damage from the threat of US tariffs on European products and calls for action.
Is there a risk of billions in damage? Aiwanger sounds the alarm for Bavaria's economy!
The Bavarian state government expresses concern about the threat of US tariffs on European products. Economics Minister Hubert Aiwanger (Free Voters) describes the situation as a major danger for the Bavarian economy, which is heavily export-oriented. The USA is Bavaria's largest export partner; in 2023, the Free State exported goods worth 28.4 billion euros to the United States. This corresponds to 12.6 percent of total Bavarian exports. The most important export goods are automobiles, mobile homes, machinery and medical devices.
Aiwanger warns of “billions in damage” to the Bavarian economy from possible tariffs and appeals to the federal government and the EU to take action against these measures. He also calls for lower corporate taxes and a secure and affordable energy supply to strengthen competitiveness. He also emphasizes the need to reduce dependence on the USA and China and to open up new markets in South America, Africa and Southeast Asia.
Trade conflict with the USA
Aiwanger points out that tariffs against Mexico and Canada have been suspended for the time being, which is important for many German companies that produce in Mexico for the US market. Stephanie Schuhknecht from the Green Party describes the threatened tariffs as “poison” for the Bavarian car industry, as one in five cars from Bavaria will be exported to the USA in 2023. Suppliers in Mexico could also be affected.
Aiwanger considers the danger of deindustrialization of Europe as a result of Trump's goal of bringing production capacity back to the USA to be serious. He reports on a Bavarian automotive supplier that could lose hundreds of millions of dollars annually due to US tariffs against Mexico. Aiwanger describes the situation as a “knockout blow” for many German investors and calls for a European solution to the trade conflict in order to be better perceived. Loud sueddeutsche.de The gross domestic product in Germany could fall sharply, which would also have significant consequences for Bavaria.