Washington (dpa/d.de) – During her inaugural visit to the US from June 18 to 21, German Minister for Economic Affairs Katherina Reiche emphasized the close economic ties between Germany and the United States. “More than 6,000 German companies have production sites in the US, operating in all 50 states,” said the minister. She noted that these companies provide over 900,000 jobs in the US. “What matters here is growth, investment, good jobs, and functioning value chains.” The bilateral trade volume between the two countries amounts to around 253 billion euros.
In her meetings with US Trade Representative Jamieson Greer, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent, the minister pushed for a swift resolution to the current tariff dispute between the US and the EU. US President Donald Trump triggered a new trade conflict shortly after taking office by announcing new tariffs on imports from the EU. These were partially suspended after major turbulence on stock and financial markets – the deadline is July 9. Still, this creates significant uncertainty for businesses. “The current tariff dispute is costing the German economy millions of euros per day,” said Reiche.
There’s still hope that an agreement will be reached by July 9. The US market is especially important for the German automotive industry. No other country currently imports as many new passenger cars from Germany as the United States.. In 2024, the US accounted for 13.1 percent of German car exports. That is a higher share than exports to China Many German brands produce and sell directly in the US.
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