Losses from Trump's duties have been calculated in Germany

The import duties imposed by US President Donald Trump will cost the German economy €290 billion by 2028. This was reported by Handelsblatt on April 16, citing a study by the German Economic Institute (IW).

"Trump's tariff war could cost Germany about €290 billion by 2028. This will correspond to 1.6% of gross domestic product (GDP) per year," the publication clarifies.

At the same time, the total costs of the European Union due to American duties in the period from 2025 to 2028 may amount to € 1.1 trillion. At the same time, developing countries could suffer even more and suffer "significant losses" in the growth of the national economy, analysts warned.

Market conventions: China and the EU may join forces in a trade war against the United States

The share of their total GDP in the global economy will reach a third in the coming years, but it is unlikely that the countries will remove all barriers.

On April 2, US President Donald Trump announced the introduction of 10% base duties on products imported from other countries. For the European Union (EU), this figure was raised to 20%, and for China — to 34%. On April 4, Beijing imposed retaliatory duties of 34% against the United States, after which Washington announced an increase in anti-Chinese duties to 104%. Later, the authorities in Beijing decided to raise duties on imported goods from the United States to 84% as a mirror measure.

On April 9, Trump announced the suspension of duties previously imposed on a number of countries for 90 days. He also announced an immediate increase in duties on products from China to 125%. On April 10, this figure reached 145%.