TRADE POLICY REACHES A CROSSROADS
Free trade is essential for the existence of mechanical engineering. Exports account for around 77 percent of the German sales of 224 billion euros (2017). 660,000 jobs depend directly on these exports. More than one third of exports already go to countries with high import barriers.
CHINA ON COURSE FOR EXPANSION, BUT MORE OPENNESS NEEDED
Trade relations with China are good, but there is always room for improvement. According to the analysis by VDMA’s China expert Oliver Wack, we need more protection of expertise, more free trade, and fewer market barriers. And both Germany and the EU need to develop a strategy for dealing with China in future.
"MOSCOW IS READY TO USE PROTECTIONISM"
As the largest agricultural country in the world, Russia's demand for machinery is extremely high and the state wants to meet this demand primarily through the use of domestic technology. As a result, Russia's continuing protectionist policies are hitting the international agricultural machinery industry hard.
US TAX REFORM AND ITS IMPACT ON GERMANY'S MECHANICAL ENGINEERING SECTOR
Initial analyses suggest that the changes to US tax law will not only have an impact on the American economy, but also on other industrial nations and thus for German mechanical engineering.
EXPORTS SECURE SUCCESS
After several years of virtual standstill, sales revenues in the German mechanical and plant engineering sector grew by around 3 percent in 2017, reports Ulrich Ackermann, Head of VDMA Foreign Trade. For VDMAimpulse he not only looks back, but also looks to the future.
IRAN: BACK TO THE FUTURE
Now that most of the international sanctions on Iran have been lifted, the mechanical engineering industry is eager to expand trade relations with the country. While there is great economic potential, there are also obstacles along the way.