Börner: “To see light on the horizon”. No negative consequences for investments expected.
The violent storm of supporters of the outgoing US President Donald Trump on the Capitol is also worrying the German economy. “The disturbing pictures from last night hurt, but fortunately the spook will soon be over and light can be seen on the horizon,” said the president of the German foreign trade association BGA, Anton Börner, on Thursday of the Reuters news agency.
Democracy in the USA will survive that too. With the upcoming change of office in the White House, the hope for a more reliable and better cooperation is connected.
“We have full confidence in the democratic structures and institutions here,” said Börner. “The confirmation of Joe Biden as the election winner by the US Congress is a good and important sign here.” The USA has been the most important buyer of goods “Made in Germany” for years: in 2019, goods worth 118.7 billion euros were exported to the United States.
“I do not expect any negative effects on investment projects,” said Börner in view of the events in Washington. “However, a more orderly transition to the new government is urgently needed in view of the numerous challenges that continue to exist.” The rampant pandemic in the USA is also a heavy burden for the Biden administration. “An early economic recovery of our important transatlantic partner will depend on coping with it,” said Börner.
Previously, associations and company bosses from the USA had expressed their concern for stability and democracy in their country. The reaction of the President of the National Association of Manufacturers to the revolt on Wednesday was the sharpest. Your boss, Jay Timmons, called for impeachment proceedings against the loser Trump by the current Republican administration. Trump “incited violence while trying to stay in power,” he said. The industry association represents 14,000 companies, including Exxon Mobil, Pfizer and Toyota.
