Germany sees global economic uncertainty after Trump victory

November 11, 2016 11:02


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

BERLIN- The global economic outlook is tinged with uncertainty following the US election and the Brexit vote, but there will likely be no major economic impact on the German economy in the short term, the Economy Ministry said on Friday.

"The global economic environment remains characterised by uncertainty following the Brexit decision and the US. election," the ministry said in its monthly report.

"However, no negative impact is expected in the short term from today's point of view," it said, adding that the German economy, Europe's largest, likely continued to grow moderately in the third quarter.

Donald Trump's protectionist rhetoric and his surprise victory in the U.S. presidential election shocked German politicians and business leaders.

The United States is Germany's most important export market, accounting for roughly 10 percent of overall sales abroad. In 2015, German companies sold goods worth 114 billion euros to the U.S. - mainly vehicles, machines and chemical products.

Germany's Ifo institute estimates that more than 1 million jobs in Germany are linked to those exports that could shrink if Trump actually enacts his protectionist rhethoric.

Related Content

Breaking news
August 20, 2018
King of Morocco appoints new minister for economy and finance