Published by Global Banking & Finance Review®
Posted on April 3, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleGerman Chancellor Scholz warns that Trump's tariffs could harm the US economy due to complex supply chains, even without a European response.
BERLIN (Reuters) - The tariffs announced by U.S. President Donald Trump will put a strain on the United States' exports as well, said German Chancellor Olaf Scholz on Thursday.
At a press conference in Berlin, Scholz also pointed to complex supply chains: "Sometimes there are so many supply chain dependencies that some things are sent back and forth a 100 times. You cannot simply stop that."
He added: "Even if Europe did nothing (in response), it would lead to economic difficulties in the U.S."
(Reporting by Thomas Escritt, Kirsti Knolle)
The article discusses the potential negative impact of Trump's tariffs on the US economy, as highlighted by German Chancellor Olaf Scholz.
Scholz points out that complex supply chains mean goods are exchanged multiple times, complicating the impact of tariffs.
Scholz warned that even without a European response, the US economy could face difficulties due to the tariffs.
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