29 January 2025 – The big Economic Warning Day is taking place in Germany today to draw attention to the dramatic situation in large parts of the German economy. US tariffs could push inflation up to four percent.
Germany: Economic Warning Day on 29 January 2025
Today marks Economic Warning Day in Germany, which is supported by a broad alliance of associations and hundreds of companies. The nationwide day of action is intended to draw attention to the dramatic situation in large parts of the German economy.
The organizers of the Economic Warning Day have come up with 10 demands for politicians to promote the competitiveness of German companies and get them back on track.
SMEs must be the focus of economic policy decisions
First of all, we welcome the fact that the German economy is beginning to fight back against the left-wing socialist tendencies of recent decades in Germany. However, it should not be forgotten that the CEOs of large, sometimes multinational corporations are represented on the boards of many business associations and that it is precisely these large companies that have been given preferential treatment by the left-green government for years.
Therefore, the primary goal should be to make political decision-makers aware of the concerns and needs and the competitiveness of small and medium-sized enterprises (SMEs) and to take immediate action here.
Whether you like it or not, every now and then German companies would do well to take an example from the farmers’ protests of recent years.
US tariffs could push inflation up to four percent
Economists repeatedly cite tariffs as a key factor for inflation. According to a British economic consultancy, the Trump administration’s tariff plans could push US consumer price inflation back up to 3 to 4% – as European media report today.
Domestic consumers pay punitive tariffs
Analysts have recently said that Trump has repeatedly claimed that other countries would pay for tariffs, which in their view indicates that he believes foreign exporters would be forced to absorb these tariffs by lowering their prices in order to remain competitive. However, economic history has shown that it is not foreign exporters but domestic consumers who end up paying the higher prices.
Europe with double standards on tariffs again
However, while the inflationary effect of possible new US tariffs and the damaging impact these would have on domestic companies in the EU is repeatedly pointed out from the European side in particular, punitive tariffs at the EU’s external borders are also repeatedly demanded despite better knowledge.
This shows that there are once again double standards – while tariffs are denounced as bad in the United States, they are praised as a panacea for Europe, especially by European steel makers. The inflationary bill triggered by punitive tariffs will ultimately be paid by the consumer.
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