Germany news: Commerce chief calls for stable US trade relations after midterms, warning that uncertainty over Trump's tariff policies remains
German business is pinning its hopes on greater stability in US trade relations after a midterm blow for Donald Trump. Meanwhile, Germany's automakers appear to be feeling less gloomy than in recent years. DW has more.
The head of Germany's main Chamber of Commerce, Helena Melnikov, has called for more stable US trade policy following Republicans losing control of both chambers of Congress. She expressed concern over Donald Trump's frequent tariff changes and deadline shifts, which have hampered German exporters' ability to plan. Melnikov emphasized the importance of reliable trade relations with the US, Germany's largest export market, while cautioning against predicting Trump's future economic actions.
Achim Wambach, president of Germany's economic research institute ZEW, warned that losing his congressional majorities could push Trump to pursue more of his agenda through trade and foreign policy. Ifo Institute's business climate index showed a significant improvement, rising from minus 33.2 to minus 4.1 points in October, though overall expectations remained negative.
Germany's auto industry confidence has surged to its highest level since mid-2024, according to the Ifo survey, though the institute's business climate expert Anita Wolfl cautioned against complacency, noting persistent uncertainty due to monthly fluctuations in business confidence. Housing giant Vonovia criticized Berlin's proposed acquisition of private housing portfolios, calling the plan both incorrect and potentially legally questionable.
Vonovia's CEO asserted that such a move would not create additional housing and would undermine investment confidence.
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