24 July 2026 – "The latest tariff changes from the US primarily increase one thing for the globally connected German economy: uncertainty. And uncertainty, of course, is poison for business. It is evident that Washington is trying to enforce the tariffs, halted by courts in February, through alternative legal means. However, the constant tariff adjustments create additional bureaucracy and ongoing legal uncertainties overall. This is not what planning security looks like. 

On a positive note, the new tariffs already include the existing Most-Favoured-Nation tariffs (MFN). This means that the effective tariff rate for the majority of exported products will be less than 15 percent. However, the main goal must not be overlooked: The WTO-inconsistent US tariffs need to be completely dismantled – especially the special tariffs on steel and aluminium that are still in place. 

At the same time, the European Union must firmly counter the accusations coming from Washington. Neither the criticism of insufficient measures against forced labour nor allegations of supposed European overcapacities withstand factual review. The same applies to the recurring accusations against the German healthcare system. Clear and unequivocal responses are required here. 

Companies need a reliable compass and fair trade relations on an equal footing. As long as trade policy frameworks can change at any time, investments will remain on hold, and long-term decisions will be postponed. Stable, predictable, and rule-based trade relations are therefore in the interest of both sides of the Atlantic."