""For Germany, these new tariffs would be absolute poison," ING economist Carsten Brzeski told AFP, adding that the heightened uncertainties "clearly jeopardise the fragile recovery underway"."
""Greenland is taking this madness to extremes," Thorsten Bauer, co-head of laser maker Xiton Photonics, told AFP, expressing a sentiment shared by many business leaders."
"The Federation of German Industries denounced "an inappropriate and damaging escalation for all parties," which it said "is putting enormous pressure on transatlantic relations"."
Trump threatened additional tariffs of up to 25 percent on products from eight European countries in response to pushback over Greenland. The announcement blindsided Germany's government and export-reliant businesses, rattled markets, drove stocks down and lifted safe-haven assets such as gold. Economists warned the levies would be "absolute poison" and would jeopardise a fragile recovery after 0.2 percent GDP growth in 2025 following two years of recession. Large public spending on defence and infrastructure had raised hopes for 1.3 percent GDP growth in 2026. Industry groups denounced the escalation and warned of pressure on transatlantic relations, while business leaders voiced puzzlement and anger.
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