Stefan Kooths claims that the White House's protectionist policies are starting to harm the American economy.
Excerpt from the Interview
(...) Stefan Kooths, economics expert at the Kiel Institute, claims that the White House's protectionist policies are starting to harm the American economy.
"We warned early on that these measures, such as protectionism in aluminium and steel, are rapidly spreading to other industries," Kooths told DW. "Ultimately, the US economy suffers as much from these sanctions as the rest of the world. This will make everyone poorer and the American car industry will be the victims of US protectionism.
But Kooths warned that while tariffs and protectionist measures implemented by the Trump administration are a contributory factor, they are not the only reason for the issues GM is facing.
"The problems of GM certainly do not go back only to the higher steel prices," Kooths said. "They also have something to do with the need to re-adjust the model palette. Some chiefs are now too quick to push everything on the tariffs. But clearly these are the negative boomerang effects that then hit your own economy."