GERMAN BUSINESSES SUFFERING AS U.S. SANCTIONS AND TARIFFS BITE

Any time a nation starts a trade war it is begging for trouble. A trade dispute disrupting another nation’s economy is equal to a war without bullets and bombs. In the end people suffer and the government in trouble falls into turmoil

GERMAN BUSINESSES SUFFERING AS U.S. SANCTIONS AND TARIFFS BITE

Trump non Diplomat

“Of course the US policies are impacting German foreign trade.”

BY REUTERS   AUGUST 11, 2018 06:38  2 minute read

 
> Report: Germany considers Iranian bid to withdraw 300 million euros cash
> German ministry: No decision yet on Iran bid to withdraw cash
German businesses suffering as U.S. sanctions and tariffs bite
 
BERLIN – German companies are increasingly suffering from US President Donald Trump’s policy of sanctions – including those against Iran – and the tariffs he is pursuing in an escalating trade war with China, business associations said on Thursday.
Washington said on Wednesday it would also impose fresh sanctions on Russia by the end of August after it determined that Moscow had used a nerve agent against a former Russian agent and his daughter in Britain, something the Kremlin denies.
“Of course the US policies are impacting German foreign trade,” Holger Bingmann, head of the BGA trade association, told Reuters. “Individual companies are grinding their teeth and are severely affected.”
Volker Treier, foreign trade chief at the DIHK Chambers of Commerce, said the international environment was becoming increasingly complex for German businesses.
Treier said many of Germany’s trading partners were affected by the US measures and their effects, which was in turn hurting business with German companies. Exports were not faring as well as last year, he added.
He said DIHK’s forecast that German exports would increase by 5 percent this year “seems increasingly ambitious.”
Bingmann and Treier were reacting to the new US sanctions against Russia but also to punitive measures against Iran and reciprocal tariffs and trade threats by the US and China.
The United States will impose tariffs on another $16 billion of imports from August 23 and China plans to slap additional tariffs of 25 percent on the same amount of US imports ranging from fuel and steel products to autos and medical equipment.
On Wednesday China and Germany defended their business ties with Iran in the face of Trump’s warning that any companies trading with the Islamic Republic would be barred from the United States.
“It’s simply unacceptable that US laws are being enforced outside US territory,” Bingmann said.
He urged the German government to provide details on how it would protect German firms after the latest U.S. sanctions against Iran, adding that if Berlin did not do that, German firms would gradually cease doing business there.
On Monday German Foreign Minister Heiko Maas said Germany, France and Britain were determined to protect European companies engaged in business with Iran using an updated version of the EU’s so-called Blocking Statute, which bans any EU company from complying with US sanctions.
Bingmann said German trade with customers in other countries was doing well overall but that was largely due to good business in the EU.
 
This from TheTrumpet.com 

The Global Trade War Is ComingU.S. President Donald Trump speaks on March 8 before signing Section 232 proclamations on steel and aluminum imports in the White House. MANDEL NGAN/AFP/GETTY IMAGES
Beneath all the dull riffs about deficits, taxes and tariffs lie the seeds of World War III.BY BRAD MACDONALD • MARCH 9
The issue of global trade is big news right now. While this isn’t the most scintillating subject to think on, it is important. The truth is, beneath all the dull riffs about deficits, taxes and tariffs lie the seeds of World War iii.During his 2016 election campaign, Donald Trump talked a lot about reducing America’s trade deficit and promoting U.S. manufacturing. One of his campaign slogans was “Buy American, hire American.”
More recently, Mr. Trump announced that America would soon put a tariff on steel and aluminum imported from China. On Saturday he hinted that he was prepared to tax vehicles imported from Europe.
These remarks infuriated China, Germany and most of the industrialized world, and triggered countless articles about a massive global recession and inevitable global “trade war.” If you’re interested, this article on a global trade war by Peter Zeihan is exceptional, and very, very sobering.
Why the international fury?
The reason is, America has the world’s largest economy and an insatiable appetite for material goodies from all over the planet. Americans’ exceptional love of things—B.M.W. cars from Germany, clothes made in India, gadgets from China—keeps shops, factories and plants (and entire national economies) humming.
If America reduces imports (which a tariff is designed to do), the national economies dependent on the U.S. market will suffer.
The nation to pay close attention to here is Germany. Germany’s economy is export driven; in fact, exports account for nearly 50 percent of Germany’s gross domestic product. (By comparison, exports account for less than 12 percent of America’s gdp.) America is Germany’s largest export market and an essential destination for German goods. In 2016, almost 10 percent of Germany’s total exports went to the U.S.
Germany’s economy is booming right now, thanks in large part to America’s desire for German goods.
What happens if America reduces imports from Germany? Basically, Germany’s economy will shrink significantly; this could precipitate a social and political crisis (it wouldn’t take much—Germany is already on the brink of political and social crisis). Finally, an acute political crisis will likely facilitate the emergence of the prophesied German “strongman.”
As it happens, just yesterday we published a short video addressing this exact subject.
[youtube https://www.youtube.com/watch?v=9A6Q41cdaBM&w=560&h=315]
Click this link for The Holy Roman Empire In Prophecy — Free of Charge.  https://media.thetrumpet.com/Literature/EN/HRE_EN_E01.pdf
I suggest this video by the same name at YouTube.com It runs 25-minutes and generally when they produce something like this they do a quick run through the entire booklet.
Germany and The Holy Roman Empire