The German economy is very concerned about the second term in office of US President Donald Trump, who was re-inaugurated. Almost 90% of German companies are active in the import or export of digital technologies and services and expect their business to be significantly impacted. A recent survey shows that 95% of companies expect negative consequences, of which 43% expect "somewhat negative" and 52% "very negative" effects. By contrast, no companies expect positive effects and only 1% do not see any relevant changes.
Trust in the USA is eroding rapidly
A representative survey of over 600 German companies with at least 20 employees also confirms that trust in the United States is declining sharply. 60% of respondents rate their trust in the USA as "slightly weakened", while 37% perceive a "significant weakening". This development could have a particularly negative impact on the digitalisation of the German economy. This is because digital devices, chips, software and cloud services from the USA are essential for German companies: 87% of companies import such products and 81% state that they are dependent on these imports, as a recent Bitkom study on "Digital Sovereignty" shows.
New challenges due to Trump's second term in office
Bitkom President Dr Ralf Wintergerst warns of the additional challenges that could arise from Donald Trump's second presidency: "Even in Washington, the soup is not eaten as hot as it is cooked. Nevertheless, there are justified concerns in the German economy." He is calling for closer cooperation with European partners in order to overcome these challenges.
With a view to the federal elections on 23 February, Wintergerst is calling for a new start for Germany with a clear focus on digitalisation. He is calling for an independent digital ministry that relieves the burden on the economy and reduces bureaucratic hurdles. "Germany and Europe must massively expand their capabilities in key digital technologies and strengthen their digital sovereignty - this is more important than ever now that Donald Trump has once again taken office."
Further information can be found at www.bitkom.org.