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In the course of the realignment of US economic policy, German companies with business activities with and in the US see opportunities, but also challenges. In addition to the positive effects of corporate tax cuts in the US, German companies expect a reduction in regulation, the sustainable availability of long-term, low-cost energy and the promotion of new relocations.

However, the new opportunities are also accompanied by concerns: The unpredictability of US policy weighs particularly heavily. The lack of planning certainty makes strategic location decisions and long-term investments, particularly the relocation of production facilities and new settlements, more difficult. In addition, new US import tariffs are a burden on German companies in their global trade activities.

This is the result of our latest company survey .

According to the survey, the German companies surveyed want to position themselves more broadly in response to the measures taken by the new US administration and reduce their dependence on just a few large markets. Almost half of the companies are evaluating an additional entry into new target regions such as Africa, South America or Eastern Europe.

• Economic opportunities through US reforms: 44 per cent of the German companies surveyed expect benefits for their US business from tax cuts, less regulation in the area of research and development (26 per cent) and 24 per cent each from relocation incentives and sustainably cheap - especially fossil - energy
• Key challenges Unpredictability of US policy (69 per cent), US tariffs (49 per cent) and tax increases against foreign companies (37 per cent)
• Relocation of production remains a marginal phenomenon: 80 per cent continue to rely on "Made in Germany" - only 10 per cent are considering relocating to the USA
• No pull to the USA: 21 per cent are planning to set up new production facilities in the USA, but almost as many are thinking about withdrawing from the USA (19 per cent)
• Diversification as a strategic maxim: 51 per cent are evaluating new markets, including in Africa, South America or Eastern Europe; 20 per cent want to focus on Asia
• Exiting the USA rather than China: only 4 per cent want to exit China due to the new US policy, but 19 per cent plan to exit the USA
• ESG commitment remains untouched despite the US turning away from it: 85 per cent of the German companies surveyed are maintaining their ESG commitment - despite the presidential decrees already issued in the US and the calls for German companies to follow suit