Much is at stake for german industry with hundreds of thousands of employees. The partial shutdown in germany in november creates new uncertainties about the future of the corona crisis.
Many companies in the steel and automotive industries, for example, are already facing a difficult structural change: they need to become more digital and increase their efforts to protect the climate. And now there is the US election drama with an uncertain outcome.
Industry president dieter kempf warned on wednesday of an escalation of the situation. Every phase of insecurity was "poison" for the relationships. There is far too much at stake, kempf said at a digital industry conference – the u.S. Is one of germany’s most important trading partners. Economics minister peter altmaier (CDU), referring to U.S. President donald trump, said it was to be hoped that all parties involved would accept the results and that there would be clarity quickly.
Kempf said: "regardless of who becomes the future U.S. President, german industry wants a new start in transatlantic relations."The partnership has run into difficult waters over the past four years. The U.S. Has finally had to stop levying or threatening to levy tariffs under the guise of national security. "The tariffs that the u.S. Now levies are a burden on the economy on both sides of the atlantic."Altmaier said there had been tensions and conflicts in relations with the u.S. In many areas over the past four years. At least it was possible to prevent an escalation of the situation.
In berlin, trump’s departure from close international cooperation has long caused headaches. In addition to trade disputes, there is U.S. Resistance – also supported by democrats – to the nord stream 2 gas pipeline from russia to germany and a reform of the world trade organization (WTO).
The USA, however, is of paramount importance for the german economy. They are the largest single market for the export of "made in germany" goods. In 2019, germany exported 119 billion euros worth of goods to the U.S., according to the german chamber of industry and commerce. 12 percent of all german car exports went to the u.S. And as much as 18 percent of all german pharmaceutical exports. Since the corona shock in the spring, however, exports to the u.S. Have dropped significantly.
In addition, a major problem in general was that international supply chains were disrupted and parts were missing, forcing car plants in germany, for example, to temporarily halt production. The chairman of IG metall, jorg hofmann, said on wednesday that the question was whether the second wave would again lead to a disruption of international supply chains as in the spring, in view of the continuing high number of corona infections. This could have enormous consequences for the industry and for jobs. In a declaration by the alliance for the future of industry from the ministry and business associations, it says it is "essential" that such chains are broadened – to prevent dependence on individual suppliers.
That’s why altmaier wants a more active industrial policy in the eu. These include the establishment of a european production of battery cells for electric cars or a european cloud for more data sovereignty. Europe needs to catch up in the field of digital technologies of the future, politicians and industry agree on that. Time is running out, however, as companies from asia and the united states are threatening to outflank firms from germany and europe.
Added to this is climate protection. EU plans to tighten climate targets. But industry warns of distortions of competition because other continents have less stringent climate requirements. Kempf said on wednesday that he was very concerned. We have to be careful not to destroy the industry on the way to more climate protection.
Altmaier again promised to support industry. There could be "green" steel and a "green" chemical industry. Ecological transformation and economic success are two sides of the same coin.
But many companies are burdened by the crisis. The longer the recession lasts, the greater the danger that important investments will be postponed, according to the declaration of the industry alliance. Financing conditions had to be further improved and tax relief provided for companies – but many points are controversial within the black-red coalition.