Berlin, Nov 4. (dpa/GNA) – The German Foreign Trade Association (BGA) says it does not expect US President Donald Trump to change his tariff policy following the Republicans’ defeat in the country’s midterm elections.
“For the time being, the results of the US congressional elections will not change anything for foreign trade,” Dirk Jandura, BGA President, told the Rheinische Post newspaper on Wednesday.
Despite Democrats having won control of both the Senate and the House of Representatives, foreign trade policy remained largely up to the president, Jandura noted.
“He can continue to act much more freely in this area than in future domestic policy.”
Jandura added that Trump’s isolationist approach wasn’t only favoured by his MAGA movement. “Many Democrats are also sceptical of free trade,” the BGA chief said.
“We must expect Trump’s tariff policy to remain in place for the time being—despite all the negative consequences, including for American consumers.”
While their stunning sweep of Congress would allow Democrats to launch investigations into members of the Trump administration and restrict his legislative initiatives, they would need majorities to do so, including to override presidential vetoes, Jandura said.
The German Chamber of Industry and Commerce (DIHK) also believed that companies would have to brace for uncertainty as long as Trump remained president.
“Congress is changing hands, but responsibility for trade policy remains with the White House. The situation therefore remains uncertain for our companies,” said Helena Melnikov, chief executive of the DIHK.
GNA