Ifo President Fuest Warns of Potential Recession Due to US Tariffs
Ifo President Fuest Warns of Potential Recession Due to US Tariffs
Ifo President Clemens Fuest cautions that retaliatory tariffs by the EU on American goods could trigger a new trade war, posing significant risks to the German economy.
Fuest highlighted the precarious situation of the German automotive industry, which is already facing challenges. He made these remarks in an interview with the ‘Bild’ newspaper, emphasizing the need for caution. Additionally, economic advisor Südekum suggested that it would be prudent to wait and see if the proposed tariffs by US President Trump, which could increase duties on EU cars and trucks to 25%, are implemented as announced. The new tariffs are expected to take effect next week.
For journalistic integrity, this report was summarized from: deutschlandfunk.de