BERLIN (Reuters) – New tariffs deliberate by U.S. President-elect Donald Trump may price Germany 1% in financial output if they arrive into impact, Bundesbank President Joachim Nagel mentioned in an interview with Die Zeit newspaper revealed on Wednesday.
“If the brand new tariffs truly materialise, we may even slip into detrimental territory,” mentioned Nagel, with Germany already dealing with weak development this 12 months and subsequent.
Nagel, who sits on the governing council of the European Central Financial institution, additionally expressed concern over the German job market outlook, telling Die Zeit: “The roles that we’re dropping in business is probably not changed as simply as earlier than by new jobs within the service sector.”