Pointers :
• Christian Kullmann warns that Trump’s tariffs could trigger a global crisis.
• EU businesses face ongoing uncertainty despite tariff negotiations.
• German Chancellor hosts investment summit to boost economy.
• Evonik CEO urges EU to show strength against US policies.
• Christian Kullmann warns that Trump’s tariffs could trigger a global crisis.
• EU businesses face ongoing uncertainty despite tariff negotiations.
• German Chancellor hosts investment summit to boost economy.
• Evonik CEO urges EU to show strength against US policies.
Christian Kullmann, CEO of Evonik, Germany’s second-largest chemicals company, has sounded the alarm on US President Donald Trump’s erratic tariff policies. Speaking to Handelsblatt on July 20, 2025, Kullmann warned that Trump’s threats of new tariffs, including a 30% levy on EU imports effective August 1, are pushing the world toward a global economic crisis.
“The constant uncertainty is paralyzing businesses worldwide,” he said. Even if the EU and the US reach a tariff agreement, Kullmann predicts ongoing concerns about unpredictable US policy shifts.
A 2025 report by the International Monetary Fund notes that global trade disruptions could reduce global GDP by 1.5% by 2026. Kullmann’s concerns reflect growing anxiety among European firms, which face rising costs and market volatility.
He urged EU leaders to stand firm, emphasizing the importance of resilience. As businesses brace for impact, negotiations between Brussels and Washington continue, with the EU preparing countermeasures to protect its industries.
Germany Seeks Economic Boost Amid Tariff Tensions
In response to economic challenges, German Chancellor Friedrich Merz is hosting an investment summit in Berlin on July 21, 2025, to spur growth after three years of stagnation. The summit, attended by 30 top business leaders, aims to attract investment and strengthen Germany’s economy.
Kullmann, absent from the event, emphasized the need for EU unity in the face of US tariff threats. “We cannot predict how long any US-EU deal will hold,” he told Handelsblatt. The European Central Bank’s 2025 outlook projects a 0.8% growth rate for Germany, underscoring the urgency of Merz’s initiative. As global trade tensions rise, German businesses are pushing for policies to enhance competitiveness.
Kullmann’s call for strength resonates as the EU navigates Trump’s unpredictable policies. The summit highlights Germany’s proactive stance in addressing economic uncertainty, with leaders seeking innovative solutions to maintain stability and growth in a turbulent global market.
