The German Industry Federation (BDI) and the German Foreign Trade Association (BGA) evaluated the impact of the uncertain outcome of the 59th presidential elections in the USA on the German economy.
German Industrial Federation (BDI) President Dieter Kempf said in a statement that they hoped that the election results in the US would not cause long-term disruption and said, “We hope that everyone in the country will remain calm.”
Emphasizing that a possible long period of uncertainty after the election will damage the trust of the companies, Kempf said, “There must be a new beginning in transatlantic relations after the election.” used the expression.
Kempf, Germany Explaining that the “partnership” between Turkey and the USA has been through a difficult period for the last 4 years, “The USA should stop raising the customs taxes or the threat on this issue under the national security argument.” found the assessment.
Anton Börner, President of the German Foreign Trade Association (BGA), stated that the USA is Germany’s most important trade market and that Berlin has to get along with every president.
Stating that a change of course cannot be expected in trade issues, Börner said, “Each president will prioritize the interests of the United States. The German economy will also cope with the political situation for the next four years. It is very important for Europe to clearly define its economic and political interests and implement them.” found the assessment.
Hans-Walter Peters, president of the German Banks Association (BdB), the umbrella organization of banks operating in Germany, said that they hoped that the election result would soon become clear and that the US government would start working in these difficult times of the Covid-19 crisis. “It is important that both winners and losers in the US accept the outcome of these democratic elections and then try to unite the country. Permanent uncertainty is poison for the economy, capital markets and banks. ” found the assessment.