Nearly 60% of German companies believe the European Union's latest trade deal with the United States will impose greater burdens through increased tariffs and red tape, according to a flash survey by the German Chamber of Commerce and Industry (DIHK).
The number jumps to 74% among companies with direct business ties to the U.S., reflecting growing unease as 15% tariffs on most EU goods are set to take effect Thursday, News.Az reports, citing Reuters.
“This agreement may have been politically necessary, but for many companies in Germany, it is still a bitter pill to swallow,” said Helena Melnikov, CEO of DIHK. She also warned about the uncertainty surrounding the deal's longevity, urging the EU Commission to seek improvements in future negotiations.
Only 5% of companies surveyed expect to benefit from the agreement, while 37% foresee no impact. The rest anticipate negative consequences.
Among firms directly operating in the U.S., 80% cited new tariffs as their primary concern, and 9 out of 10 already report feeling the effects of recent trade tensions.
In response, two-thirds of German businesses are shifting focus to other markets, with the EU single market being seen as a more stable and predictable alternative.
