'American Brexit' could lead to 'open trade war' - German group warns - Ghana Business News

Dirk Jandura is the president of the German foreign trade association (BGA). He spoke at the opening of Entrepreneurs' Day 2024.

On Thursday, he reacted to US tariffs. These tariffs are part of an "open trade war." This follows President Donald Trump's announcement of a 10% customs duty on all imports.

Jandura called this decision a "frontal assault on global trade." He noted that it affects over 100 trading partners. He warned that this conflict will significantly impact economic growth.

Germany, as an exporting nation, will be hit hard. Trump announced a 20% tariff on goods from the European Union. This tariff is set to take effect on April 9.

The automotive sector in Germany is already facing major disruptions. A steep US tariff of 25% on imported cars began overnight.