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Investing.com -- German Finance Minister Joerg Kukies emphasized the importance of reducing uncertainty for economies and businesses on Wednesday. His comments were made in the context of ongoing negotiations on trade tariffs with the United States.
Kukies voiced concern about the prolonged uncertainty affecting both the U.S. and German economies. He expressed these concerns while speaking at the Semafor World Economy Summit in Washington.
Germany, a member of the Group of Seven advanced economies, has been in an economic slump for the past two years. This stagnation makes it the only member of the group that has failed to grow during this period.
The situation could potentially worsen due to the tariffs announced by U.S. President Donald Trump. These tariffs may deal a significant blow to the German economy, potentially leading to a third consecutive year of recession. This would be a first in the country’s post-war history.
The finance minister’s remarks underscore the urgency for an agreement on trade tariffs between Germany and the U.S. His comments highlight the potential risks for the German economy should the tariff situation remain unresolved.
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