02.11.2026 - “The US midterm elections in our most important export market, the USA, are also of great relevance to the German economy. The Turnberry Deal recently eased tensions in transatlantic trade and provided greater planning security for business in the US. However, this must only be the first step. Companies do not need new tariff barriers, but open markets and reliable rules. The focus must now shift to reducing existing trade barriers on both sides of the Atlantic.

The extent of uncertainty among German companies in the US is illustrated by current figures from our DIHK-AHK survey: 51 percent see economic policy conditions as a significant business risk – compared to 34 percent in 2023. Almost one in two companies also cites trade barriers as a risk. That is almost four times as many as three years ago. The data shows: A trade policy truce alone is not enough. Businesses need long-term planning security to invest and grow.

The midterm elections are therefore also an important political indicator for the German economy. What will be decisive is whether Washington continues on its path towards stabilising economic relations and opens up new opportunities for closer transatlantic cooperation.”