Germany's Exports to the US Could Drop by 10% Due to New Tariffs: Bild

The new US tariffs could lead to a 5-10% decrease in exports from Germany to the United States, resulting in annual losses of 8 to 15 billion euros, reported the Bild tabloid, citing economists' calculations.

On Saturday, US President Donald Trump announced the imposition of a 10% tariff in February on Denmark, Norway, Sweden, France, Germany, Great Britain, the Netherlands, and Finland, which will later increase to 25% and remain in effect until the US completes its deal to purchase Greenland.

According to economists' calculations, even an additional 10% tariff could lead to a sharp decline of 5-10% in exports from Germany to the US. This would amount to annual losses of 8 to 15 billion euros, in addition to the existing burden of the current 15% tariff.