Germany’s global export position has deteriorated substantially in recent years, according to research by the Bundesbank, which blames structural issues rather than President Donald Trump’s tariff spree.
Market shares in international trade have been declining since 2017, with the drops accelerating from 2021, economists wrote in an article published Monday. More than three-quarters of the losses between 2021 and 2023 were due to a slump in competitiveness.