President Trump’s tariff announcement yesterday is a poignant reminder that the world as we knew it is undergoing substantial changes. Leaving aside the global political turmoil created by the new US administration, we now also see that the economic model, which underpins our wealth and prosperity, is being severely harmed. As a result, European cooperation has become an ever more important imperative and we should not let us being divided by others. The fact that Germany, as Europe’s largest economy, still does not have a fully-fledged government is more than regrettable, but we hope that coalition negotiations will be quickly concluded, so that the new government can join the UK, France, and others in forming strong joint positions on the manifold geopolitical and economic challenges.
It is important to point out that the future will be more expensive for all of us, because money must follow words. Therefore, a stronger focus on the economic revival of Europe is needed, as without growth the inevitable loss in prosperity as a result from addressing the manifold challenges will be even larger.
In this context closer economic ties across the channel are vital. Strengthening the resilience of European supply chains and joint defence investment as well as procurement are just a few examples where we need to work much closer together.
Whilst the British government has shown some impressive political leadership in recent weeks, it is now important that the next German government sets the parameters for releasing the potential of her economy in order to also provide economic leadership for the continent. We at the Chamber will also continue to build economic bridges across the channel and help companies to navigate the stormy waters ahead. Therefore, we would like to hear about your current challenges and thus be grateful if you were to take part in our spring survey.
Dr Ulrich Hoppe
Director General
German-British Chamber of Industry & Commerce
