Donald Trump’s “America First” policy could prompt China to dump cheap goods in Europe, triggering retaliation by Brussels, German industrial leaders say, in a stark warning of the potential knock-on effects of US protectionism on the global economy.
“If Trump imposes punitive duties on China, that could lead to massive diversions of trade flows towards Europe,” said Ulrich Ackermann, head of trade at the VDMA, the German machine tools association, one of the country’s most influential trade bodies.
“They’ll look around for other markets, and their attention is bound to shift to Europe. Then we must be able to protect our markets.” China already runs a €180bn trade surplus with the EU.
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