Uncertain Outlook for German Export Trade According to BGA

German foreign trade is currently on a recovery path, but at a low level, according to the latest reports. This fragile state of affairs has been compounded by several factors, including the ongoing coronavirus pandemic and the impending exit of the United Kingdom from the European Union.

On Thursday, Anton Börner, the President of the German Association for Foreign Trade (BGA), made a statement regarding the state of German foreign trade. He expressed caution regarding the further development of interstate trade, citing an uncertain future due to the global health crisis and the political changes in the United States and the United Kingdom.

The outcome of the US elections, with Joe Biden becoming the 46th president, is expected to have an impact on US-Germany relations. Under the leadership of Donald Trump, transatlantic relations had taken an unpredictable turn, but with Biden's victory, there is a hope that the handling of the situation will be more civilized. This change likely signals a return to a more traditional and cooperative transatlantic relationship.

However, the future of German foreign trade is not solely dependent on US-Germany relations. The upcoming exit of the United Kingdom will continue to have an impact on bilateral trade. The Brexit, which has already taken increasingly absurd turns, has left clear marks on trade relations, and its effects are expected to persist even after the UK's departure from the EU.

The coronavirus, meanwhile, continues to pose a significant threat to the recovery of foreign trade. The virus is causing infection numbers to rise worldwide again, and there is a possibility that it could disrupt the recovery of foreign trade by the end of the year.

In light of these challenges, it is clear that German foreign trade faces an uncertain future. The BGA President, Anton Börner, has urged caution and called for a more civilized approach to handling these issues, regardless of who wins the US election. As the world navigates these troubled waters, it is essential to prioritize cooperation and stability in international trade relations.