Bloomberg reported on the industrial crisis in Germany

Industrial production in Germany experienced the biggest drop in a year, leading to a crisis caused by trade duties imposed by US President Donald Trump. This was reported on August 7 by Bloomberg, citing sources.

"The volume of production in June decreased by 1.9% compared to the previous month," the agency noted.

According to Bloomberg, due to the industrial collapse, the German economy shrank by 0.2%, not 0.1%.

Due to recent events, many industrial companies are revising their forecasts towards further decline, at least until the end of 2025.

However, according to the agency, German economists forecast growth of 1.1% in 2026, which should accelerate to 1.6% by 2027.

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Earlier, on July 28, the United States and the European Union (EU) agreed on a trade deal. The agreement will allow the EU to avoid 30% duties that could be imposed by Washington. However, Trump said he did not intend to reduce the level of duties for Brussels from 15%.

On July 12, Trump announced the introduction of 3.0 percent duties on goods from the European Union from August 1. The American leader stressed that tariffs would not be imposed if the EU or the bloc's companies decided to manufacture products in the United States.

EC President Ursula von der Leyen, in turn, called the imposition of duties of 30% on EU exports a violation of the most important transatlantic supply chains. According to her, this could harm businesses and consumers on both sides.

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