""This agreement may have been politically necessary, but for many companies in Germany, it's still a bitter pill. It brings new burdens instead of relief: higher tariffs, more bureaucracy and reduced competitiveness.""
""More than half (58%) of the 3,355 companies included in the survey said they expected the deal to increase their burden.""
""Altogether 74% of companies that maintain direct business ties with the US foresee negative fallout from the deal, the study showed.""
A survey by the German Chamber of Industry and Commerce indicates that a majority of German businesses view the new tariff agreement between the US and EU negatively. Over half of the surveyed companies expect added operational burdens, with only 5% anticipating positive effects. 74% of firms with direct US ties foresee detrimental consequences, prompting more than half to plan a reduction in trans-Atlantic trade. Customs handling has also been revised by 31% of firms, who may pass increased costs onto US customers. The agreement introduces higher tariffs and increased bureaucracy, impacting competitiveness.
Read at www.dw.com
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