从德国最大贸易伙伴更替看美关税冲击

Group 1 - The United States is no longer Germany's largest trading partner as of the first eight months of 2025, with China taking its place, largely due to U.S. tariffs and trade barriers [1] - Germany's exports to the U.S. fell to €101 billion, a decrease of 6.5% year-on-year, with August exports alone dropping 20.1% compared to the previous year, marking the lowest level since November 2021 [1] - In contrast, trade between Germany and China showed resilience, with total trade reaching €166.3 billion in the same period [1] Group 2 - Over half of the surveyed German companies plan to reduce trade with the U.S. due to the uncertainty caused by U.S. tariff policies, and about a quarter are considering pausing or canceling investments in the U.S. [2] - The automotive sector, a major contributor to Germany's trade surplus with the U.S., has been significantly impacted, with approximately 51,500 jobs lost in the automotive industry over the past year [2] - Major companies like Mercedes-Benz and Volkswagen are announcing spending cuts due to increased prices of German goods in the U.S. market caused by high tariffs [2] Group 3 - The number of corporate bankruptcies in Germany reached a 12-year high in July, with over 22,000 companies expected to file for bankruptcy this year, averaging more than 60 per day [3] - The German economy is projected to grow only 0.2% in 2025, significantly affected by U.S. tariffs and policy uncertainties, particularly impacting the industrial sector [3]