New us president offers new business opportunities

New us president offers new business opportunities

New U.S. President offers new business opportunities "In recent years, relations between the U.S. And Germany or the U.S.A. Have become increasingly complex. The EU cooled down. Symbolic of this are the trade disputes between the two sides. It is therefore all the more important that we do not talk over each other, but with each other, that we stay in conversation." This was explained by IHK Vice President Hans-Christoph Gallenkamp now at the IHK lunchtime talk at the IHK to about 30 participants, who were partly on site and partly digitally connected. The German Chambers of Commerce Abroad have played an important role as intermediaries, acting as official representatives of the German business community and providing a voice to politicians. IHK Vice President Hans-Christoph Gallenkamp with Susanne Gellert, Bastian Müller and IHK Managing Director Marco Graf. © IHK Osnabrück – Emsland – Grafschaft Bentheim

Accordingly, Susanne Gellert, Deputy General Manager of the German-American Chamber of Commerce in New York, emphasized the close relations between the two countries: "With 5.406 majority-owned companies and 773.000 jobs created, German companies are the third-largest foreign investor and employer in the U.S. The USA remains Germany's number one trading partner with a trade volume of 187 billion US dollars."Regarding the current developments in the USA, the AHK representative, who was digitally connected, pointed out that the US economy is currently also suffering from the Corona pandemic. For the year as a whole, gross domestic product is expected to decline by at least 3.7 percent. Gellert also reported on the defining issues of the U.S. Election campaign: In particular, the new administration's planned two trillion U.S. Dollar economic stimulus program with a focus on investments in the areas of infrastructure, the automotive industry, energy, energy efficiency, agriculture and environmental justice offers opportunities for German companies. The field of renewable energies and energy efficiency is also one of the focal points of the work of the AHK in New York, which supports German companies in avoiding legal pitfalls and in networking locally. From the perspective of a regional company, Bastian Müller, Chairman of the Supervisory Board of WM SE, shed light on the election results. Germany's leading wholesaler of automotive parts, workshop equipment and accessories has been active in the U.S. Since 2012 with its subsidiary SSF Imported Auto Parts LLC, which employs 300 people at nine locations. He also expects a tax increase, which will also affect his company. However, this would help to reduce the currently unsustainable budget deficit of the USA. On balance, however, Müller sees the election results as creating new opportunities above all else. He expects positive effects for his company, for example, from the new president's stronger environmental policy orientation. "If the comparatively low fuel prices in the U.S. Rise, we expect to see stronger demand for more fuel-efficient European vehicles," says Mueller. It would also be very desirable if, with the change of office, the previously threatened tariffs on cars and automotive parts were finally off the table. Other companies from the region could also profit from positive effects. "More than 200 regional companies export to the U.S., about 80 companies import goods from there and 26 companies even have a branch office in the United States," reported IHK CEO Marco Graf in conclusion. "The Asia trade agreement currently signed between the ASEAN countries, China, Japan, South Korea, Australia and New Zealand shows how important international cooperation is. Our hope is that the emergence of this new Pacific economic area with 2.2 billion. People to make the U.S. And the EU think again about a transatlantic trade agreement," added Graf.

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