The head of Germany’s BGA foreign trade association has said new economic alliances are required to offset the expected negative impact from Donald Trump’s protectionist agenda – and keep German exports strong.The president of the German Federation of Wholesalers, Foreign Trade and Services (BGA), Anton Börner, told reporters in Berlin Tuesday that US President Donald Trump constituted “a very special problem for the international community.”
He called Trump “a power-obsessed entrepreneur with no respect for a social market economy.”
Instead, Trump viewed his country as it if were his business and “followed his ‘I always win’ credo,” Börner added.
Strong words – strong fears?
The BGA chief said the new US president’s economic agenda was alarming. He urged policymakers to take him seriously and point out the consequences of his economy-related moves.
Börner said new alliances had to be forged with partners in Asia, Latin America and Canada to create a counterweight.
Despite the problems at hand, German exports were likely to expand further, Börner said, adding that shipments abroad could rise by 2.5 percent in 2017 to a record volume of 1.235 trillion euros ($1.32 trillion).
“But there’s a question mark hanging over this forecast,” Börner added. “The list of risks with the potential to impact our exports is growing longer and longer.”
hg/jd (dpa, AFP)