US import tariffs: German companies relaxed

German companies are reacting calmly to the announcement of new US import tariffs on steel and aluminum.

Many companies are confident that they can pass on the additional costs to their customers or find alternative suppliers, according to a survey by the German Chamber of Commerce and Industry (DIHK).

The US government has announced plans to impose import tariffs of 25% on steel and 10% on aluminum. The tariffs are intended to protect American jobs and businesses from unfair competition. However, many economists believe that the tariffs will have the opposite effect, and will actually harm the US economy. The DIHK survey found that 57% of German companies believe that they can pass on the additional costs of the tariffs to their customers. A further 27% of companies said that they were confident they could find alternative suppliers. Only 16% of companies said that they were worried about the impact of the tariffs on their business. The DIHK's survey also found that German companies are generally optimistic about the future of the US economy. 63% of companies said that they expect the US economy to grow in the coming year. This optimism is in line with the forecasts of most economists, who believe that the US economy will continue to grow in 2018. The US is Germany's largest trading partner, and the two countries have a strong economic relationship. German exports to the US totaled €116 billion in 2017. The US is also a major source of investment for Germany. The US government's decision to impose import tariffs on steel and aluminum has been met with criticism from many countries, including Germany. The German government has said that it will work with the US to find a solution to the issue.