Nearly half of German firms expect growing trade strains with US – IW Survey

Reuters reports a survey conducted by the IW economic institute and published by RND newspaper chain on Sunday, which showed that a majority of the German firms surveyed, expect a further escalation of trade tensions between Europe and the US.

Key Findings:

Forty-four percent of German firms see escalating US-Europe trade tensions.

Thirty-four percent do not see trade ties growing more strained.

It said 41 percent of firms surveyed considered it unlikely that the United States and the European Union (EU) would reach agreement on a transatlantic trade agreement.

The IW study said continued uncertainty about the global trade environment would weigh on firms’ willingness to invest, which in turn would depress German firms’ export prospects in the United States and elsewhere.

“Given worldwide economic developments, the downturn of the German economy is expected to continue.”