German Exports To US Fall To 4-Year Low As Trump Tariffs Bite

Exports to China also declined, according to official data.

German exports to the United States in July were the lowest since 2021, official data published on Monday showed, another indication of how the U.S. import tariffs are disrupting trade.

The total value of goods shipped dropped to 11.1 billion euros ($13 billion), the fourth straight month of de-growth, according to provisional data from federal statistics agency Destatis, as reported by news agency AFP..

U.S. President Donald Trump's tariffs have dealt a blow to Germany's export-driven economy, where major manufacturers had already been struggling with high energy costs, fierce competition from Asia, and weak demand, according to the report.

Exports to China, another of Germany's top trading partners, plunged 7.3%. Overall, exports declined 0.6% sequentially to 130.2 billion euros.

Germany is home to some of the world's largest automobile, industrial machinery, and software firms, with giants like SAP and Deutsche Bank also listed on U.S. exchanges.

In July, the U.S. and EU reached a preliminary framework setting a 15% base tariff on European exports to America, with exceptions for products like steel and aluminum. A formal deal is still under negotiation.

So far this year, the iShares MSCI Germany ETF (EWG), which tracks large- and mid-cap German equities, is up 30.1% compared to the 9.8% rise in SPDR S&P 500 ETF Trust (SPY). On Stocktwits, the retail sentiment for both the funds was ‘bullish’ as of the last reading.

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