German exports to the US, adjusted for calendar and seasonal fluctuations, fell by 2.5% in August compared to the previous month, to 10.9 billion euros, amid uncertainty caused by Washington's customs policy. These preliminary data were published by the Federal Statistical Office of Germany.
„This is the fifth consecutive monthly decline and the lowest value since November 2021 (10.3 billion euros)“, the agency noted. Compared to August 2024, exports to the US fell by 20.1%.
On April 2, US President Donald Trump announced the introduction of tariffs on products from 185 countries and territories. Later, the American leader changed the tariff rate for several countries.
On July 27, European Commission President Ursula von der Leyen and Trump agreed that Washington would impose 15% tariffs on approximately 75% of European goods imported into the US from August 1, instead of a 30% tariff on all European imports that the White House had threatened. The EU will not impose tariffs on US goods. The European Commission promised to completely ban all imports of Russian energy resources into the EU and to purchase US oil, gas, nuclear equipment and fuel worth $750 billion, as well as invest $600 billion in the US economy.