Analysts expect Trump's tariff plan to hit Germany particularly hard, with its GDP shrinking 0.6% as a direct result of the tariffs.
Goldman Sachs analysts wrote, "While the 10% across-the-board tariff is a clear risk, our baseline expectation is that Trump imposes a more limited set of tariffs on Europe, including on autos-related imports worth $80bn, worth 0.9% of EU exports."
IW, a German economic institute, expects the German GDP to slide by 1.5% in the next two to three years.
The ifo economic institute predicts economic damage to the tune of €33 billion in Germany under the Trump administration's proposed measures.
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