Dennis Snower warns that a trade war between the US and China could impact globalized Germany the most
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(...) “Particularly Germany has a problem if the American-Chinese conflict actually worsens,” warns Dennis Snower, President of the Kiel Institute for the World Economy. The spiderweb of international trade could even punish Germany doubly or triply: Many companies not only sell to the US but also manufacture there before exporting to China. Next year, Daimler and BMW alone are expected to send more than 100,000 vehicles to China from the US, subjecting them to punitive Chinese tariffs as well. Since the vehicles are predominantly premium models, that could cost them up to €1.4 billion.