“Disturbing Spook” in the Capitol: A cause for concern for German industry?

Thursday, January 07, 2021

“Disturbing Spook” in the Capitol
A cause for concern for German industry?

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The USA has been the most important buyer of goods “Made in Germany” for years. Do the dramatic events in Washington have consequences for the transatlantic relationship? The foreign trade association is calm, but also emphasizes: It won’t be easier for the Biden administration.

The violent storming of supporters of the outgoing US President Donald Trump on the Capitol is much cause for concern – German exporters are also not ignoring the events of the night. For years, the USA has been the most important buyer of goods “Made in Germany”: in 2019 goods worth 118.7 billion euros were exported to the United States.

Nevertheless, one is confident that the crisis is only a snapshot. Hopes rest on the new US President Joe Biden. “The disturbing pictures from last night hurt, but fortunately the spook will soon be over and light can be seen on the horizon,” said Anton Börner, President of the BGA Foreign Trade Association, commenting on the events. Democracy in the US will survive that too.

With the upcoming change of office in the White House, the hope for a more reliable and better cooperation is connected. “We have full confidence in the democratic structures and institutions here,” said Börner. “The confirmation of Joe Biden as the election winner by the US Congress is a good and important sign here.”

“I do not expect any negative effects on investment projects,” said Börner. However, “an orderly transition to the new government is urgently needed in view of the numerous challenges that continue to exist”. The rampant pandemic in the USA is also a heavy burden for the Biden administration. “An early economic recovery of our important transatlantic partner will depend on coping with it,” said Börner.

Previously, associations and company bosses from the USA had expressed their concern for stability and democracy in their country. The reaction of the President of the National Association of Manufacturers to the revolt was the sharpest. Your boss, Jay Timmons, called for impeachment proceedings against the loser Trump by the current Republican administration.

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