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DW
6 days ago
- Business
- DW
Germany updates: WWII bomb prompts mass Dresden evacuation – DW – 08/06/2025
Authorities in Dresden have ordered the evacuation of parts of the inner city after a bomb find. Many German businesses expect negative fallout from the recent US-EU tariff deal, a study says. DW has more. Tens of thousands of people have been ordered to leave their homes in the eastern city of Dresden as experts set about defusing a bomb left over from World War II. Dresden's famous Frauenkirche (Church of Our Lady) is one of the monuments within the area to be evacuated. Meanwhile, a study by the German Chamber of Industry and Commerce has shown that a majority of German companies are apprehensive about the effects of a recent deal on tariffs struck between the EU and the businesses largely view the new tariff agreement between the US and the EU with concern, with the majority foreseeing added burdens to their operations, according to a survey by the German Chamber of Industry and Commerce (DIHK) whose results were released on Wednesday. More than half (58%) of the 3,355 companies included in the survey said they expected the deal to increase their burden. Just 5% saw the deal as having positive effects. Altogether 74% of companies that maintain direct business ties with the US foresee negative fallout from the deal, the study showed. The study indicated that more than half of firms directly involved in US markets plan to reduce trans-Atlantic trade, while 31% have revised the way they handle customs costs, among other things by passing on at least some of the increases to US customers. "This agreement may have been politically necessary, but for many companies in Germany, it's still a bitter pill," said DIHK managing director Helena Melnikov. "It brings new burdens instead of relief: higher tariffs, more bureaucracy and reduced competitiveness." Under the deal struck by European Commission President Ursula von der Leyen and US President Donald Trump amid a long-running trade dispute, most EU exports to the US will be subjected to a 15% tariff as of August 7. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Authorities in the eastern city of Dresden say some 17,000 people will be forced to leave their homes on Wednesday to allow the safe defusal of a bomb left over from the Second World War. The British 250-kilogram (500-pound) bomb was found on Tuesday amid work to demolish remnants of the Carola Bridge, parts of which collapsed into the Elbe river last September. The bomb has to be defused at the place where it was found. The area to be evacuated contains several hotels, as well as the city's famous Frauenkirche, or Church of Our Lady, which is visited by thousands of people from all over the world each year. The demolition work at the Carola Bridge already uncovered a WWII bomb in January, prompting the evacuation of 10,000 people. Dresden was the target of four massive Allied bombing raids between 13 and 15 February, 1945, during which up to 25,000 people were killed and much of the city center destroyed. from the DW newsroom in Bonn on this sunny summer day! Even 80 years after the end of World War II, ordnance left over from the conflict is regularly found in Germany. Dresden, which underwent massive bombardment in the last year of the war, is seeing its second mass evacuation of the year following the find of a British bomb on Tuesday. In other news, a study has shown that many German companies take a negative view of the recent EU-US tariff agreement, which many commentators have denounced as a capitulation by the bloc to the whims of the unpredictable US president, Donald Trump. In this blog, you will find a rundown on the main issues in focus in Germany on August 6, 2025. DW wishes you good reading!
Yahoo
28-07-2025
- Business
- Yahoo
EU-US trade deal will come with economic consequences, German industries warn
While European Commission President Ursula von der Leyen praised a trade agreement signed between the EU and US on Sunday as a stabilising factor "in uncertain times," representatives of the German economy have expressed concern. Von der Leyen and US President Donald Trump struck a tentative trade deal to avert a potentially devastating tariff war between two of the world's largest economies on Sunday. The majority of EU exports bound for the US will be subject to a 15% tariff. According to a statement made by von der Leyen, this also includes billions of euros in EU investments in the US, as well as the purchase of defence equipment. Tariffs of 15% will now apply to car exports to the US, compared to the previously announced 25%. Import duties on steel are to remain unchanged at 50%. The German economy can breathe a sigh of relief for the time being, according to Managing Director of the German Chamber of Industry and Commerce Helena Melnikov. Melnikov said that worse has been prevented, however, "the deal has its price, and this price is also at the expense of the German and European economies." Wolfgang Niedermark from the Federation of German Industries was more critical. He stated that even a tariff rate of 15% would have an "immense negative impact" on Germany's export-oriented industry. The Federal Association of Wholesale, Foreign Trade and Service also spoke of a "painful compromise" and warned that supply chains would change and prices would rise, saying the deal will cost Germany growth, prosperity and jobs. Federal Chancellor Friedrich Merz, who was satisfied with Sunday's agreement, wrote on X that the deal showed it was possible to "avert a trade conflict". However, a review of Trump's actions to date raises doubts about the reliability of the agreement and the US president's words. In an interview with the Funke media group, Michael Hüther, director of the Institute for the German Economy, said that concerns remained as Trump had never completely taken tariff threats off the table. Sign in to access your portfolio
