The latest data showed that Germany's exports to the United States plummeted in May, sparking alarm among German business and economic leaders over the growing trade volatility and the U.S. protectionism.
Industry figures have warned that Washington's unilateral trade measures threaten shared economic interests and weaken the principles of global free trade, raising fears of further disruptions to international commerce.
"Closed markets and tariff hikes always create challenges and cause problems. That's why we are committed to pushing for tariff reductions in all negotiations and eliminating trade barriers, including non-tariff barriers," said Thomas Becker, vice president for sustainability and mobility strategy of the BMW Group.
German stakeholders have grown increasingly uneasy about Washington's erratic trade stance. Analysts warn that if the United States insists on using tariffs as leverage, the long-term consequences could backfire, even harming the interests of the United States.
"(U.S. President Donald) Trump clearly aims to secure maximum benefits for the United States through (trade) deals, but I believe this is the wrong approach. In the long run, it harms everyone," said Hans-Jochem Steim, a German entrepreneur and a former member of the Baden-Wurttemberg state parliament.
Data released Tuesday by Germany's Federal Statistical Office showed that exports to the United States slumped by 13.8 percent year-on-year. On a monthly basis, shipments fell by 7.7 percent, marking the lowest level since March 2022.
Although the United States remains Germany's largest single export market, its share has been shrinking amid ongoing trade tensions. Imports from the United States also decreased in May, falling 10.7 percent from April, pointing to a broader weakening in bilateral trade flows.
The data comes just ahead of a looming deadline for potential punitive tariffs from Washington. In April, the U.S. administration announced the introduction of so-called "reciprocal tariffs" on imports from the European Union (EU). Initially scheduled for implementation on July 9, the measures were later postponed to Aug. 1.
Currently, the United States levies 25 percent tariffs on European cars and car parts, and 50 percent on steel and aluminum products, raising concerns among exporters.
US trade policies harm interests of all parties: German businessmen
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
