he Federation of German Industries (BDI) has sharply criticised the recent tariff agreement between the EU and the USA. In its statement, Wolfgang Niedermark, Member of the BDI Executive Board, described the deal as an “insufficient compromise with far-reaching negative consequences for German industry.” He warned: “Even a tariff rate of 15 percent will have immense negative effects on the export-oriented German industry” and stressed that the agreement sends “a fatal signal to the closely intertwined economies on both sides of the Atlantic.”
The BDI acknowledges at least one positive aspect of the agreement: “The only positive aspect of this agreement is that a further escalation spiral has initially been averted.” However, Niedermark emphasised that the decisive point now is “that the agreement must become binding in order to create planning security for companies on both sides of the Atlantic.”
Few solutions – big pressure
The organisation also criticises the lack of provisions for steel and aluminium exports: “This puts further pressure on a key industry that is already facing enormous challenges in international competition and through transformation.”
The BDI calls for more decisive action from the EU: “The EU must now show that it is more than a single market – it must be a power factor,” said Niedermark. He added that the European Commission should now promote technology, integrate the single market more strongly, and swiftly conclude streamlined trade agreements.
The association also condemned excessive internal EU regulation: “Europe is blocking itself with local bureaucracy, multiple reporting obligations, and differently implemented EU regulations,” it said, demanding that “all regulations be reviewed and bureaucratic hurdles consistently removed.”
Finally, Niedermark stressed the importance of lasting cooperation: “Now everyone must pull together to stabilise transatlantic economic relations in this difficult phase.”
