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Donald Trump's clear victory in the recent US elections directly increases the financial pressure on Germany. In addition to the possible introduction of punitive tariffs, there is also the threat of a massive tightening of defense policy.
NATO sceptic Trump has long criticized Germany's half-hearted NATO contributions: These have been below the required minimum level of 2% of GDP for over 30 years - in some cases considerably so. As US President-elect, Trump is now calling for an increase to at least 3 to 4%, in line with the US contribution. An increase to 3.5% would currently mean additional annual expenditure of over 60 billion euros for Germany!
This means that any new German government will immediately inherit a massive budget problem for which there is no apparent solution in 2025 - apart from new government debt.
T +49 (0) 6172 916-3631
Rathausplatz 8 - 10
D-61348 Bad Homburg