US election 2024: Are there any new customs crises for Rhineland-Palatinate?

US election 2024: Are there any new customs crises for Rhineland-Palatinate?

Trier, Deutschland - The re-election of Donald Trump ensures an alarm mood in the Rhineland-Palatinate economy! Dr. Jan Glockauer, General Manager of the IHK, warns: "The United States is the most important export market for German companies. Its return to power could have fatal effects on international trade." The threat of customs increases hovers like a sword of Damocles on trade relationships, and the experience from the last Trump administration gives bad guys. The regional wine industry in particular suffered significantly from the escalating customs disputes at the time.

economic relationships under pressure

The Rhineland-Palatinate Chamber of Commerce and Industry emphasizes the immense importance of the US market. With a trade volume of almost 6 billion euros in 2023, the USA is the most important trading partner in the Region outside the EU. "Our companies have rely on the stable US market and want to continue this in uncertain times," said Arne Rössel, managing director of the IHK working group Rhineland-Palatinate. But the reality looks bleak! The past Trump era brought numerous challenges from tariffs and protectionist measures, which particularly hit the Rhineland-Palatinate mechanical engineering industry.

The rising costs caused by tariffs on steel and aluminum led to narrow profit margins and inevitable price increases for customers. Now the companies are again faced with the challenge of whether Trump 2.0 revives the protectionist measures. Nevertheless, the hope remains: The Rhineland-Palatinate companies do everything they can to maintain and expand their relationships with US partners! "The US market is an indispensable growth engine for our regional economy," emphasizes Rössel and appeals to an open trade strategy. However, a free trade agreement between Europe and the USA seems to be a long way off. The IHK Working Group on Rhineland-Palatinate remains determined to fight open markets and fair trade!