Germany's economy ministry said U.S. President Donald Trump's decision to impose tariffs on steel and aluminium imports heightens the risk of other countries adopting similar protectionist trade policies. This could harm German exports, Reuters reported, citing the ministry's monthly report.
"It remains to be seen how the latest developments in U.S. tariff policy will impact German trade and the outlook for exports," the ministry said March 22. "Uncertainty linked to possible protectionist measures and countermeasures at present constitute a risk for trade," it added.
Germany's January economic data showed weak numbers, but the outlook for 2018 remains good despite the potential risks to exports. The government expects 2.4% growth in the economy in 2018.