As the new U.S. administration takes office, significant shifts in traditional trade relations are anticipated. This pivotal moment presents both challenges and opportunities for key stakeholders in the transatlantic business community. In her keynote speech, Hildegard Müller pointed out that trade relations between Germany and the USA are a mainstay of economic cooperation between the two countries. Around 6000 German companies secure around 900,000 jobs in the USA and have invested almost 700 billion US dollars, making them the third largest foreign direct investor.
The German automotive industry has been successfully represented in the United States for decades, Müller stated. "Last year, we produced more vehicles here than ever before. The US market is indispensable for us and remains a key sales market for German exports."
But the industry is faced with the question of how it will react if protectionist trade measures re-emerge, Müller said. “German automotive companies are feeling the growing challenges and increasing pressure." There is a need for a comprehensive program that focuses on competitiveness and a sustainable industrial policy. Müller stated: "Let me make it clear: The answer to these tasks must not be protectionism - this applies to both sides of the Atlantic. A close partnership with reliable partners is of strategic importance for both the USA and Europe. This is the only way we can jointly exploit economic opportunities."
The reception was a joined event with the Representative for German Industry and Trade (RGIT) in Washington, DC.
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