U.S. import tariffs on steel and aluminum would not reduce exports from Germany, if an exemption granted to the European Union expires on May 1 without a permanent solution. This was the view expressed Germany’s leading economic institutes.
But they warned that an escalation of a trade dispute between major economic blocs could have a big impact on German exports and the economy in Germany, which they expect to grow by 2.2 percent this year and by 2.0 percent in 2019.