Bavaria and the USA: Economic and trade ties after one year of Trump

Bavaria's economic and trade relations with the US have changed. On the occasion of US President Trump's inauguration on January 20, 2025, we joined forces with Amerikahaus München, experts, and company representatives to examine the first year in office of the current US administration and discuss prospects for the German and Bavarian economies.

Europe must seek dialogue on equal terms

Bertram Brossardt, CEO of vbw, emphasized the mutual dependence of the US and Bavaria: “We must make it even clearer that the US is dependent on Europe. According to initial estimates, Bavaria alone imported goods worth eleven billion euros from the US in 2025. In addition, Bavarian companies have been investing heavily in the United States for many years.”

The reindustrialization of the US can only succeed with technology and expertise from abroad. In the ensuing discussion, the participants agreed that Bavarian companies play a central role here. They continue to focus on long-term and stable relationships with their business partners in the US. The growth of the US economy and the positive environment for research and innovation continue to make the US a relevant destination for Bavarian investment.

Tariffs as a barrier to trade

The reports from company representatives illustrated the consequences of the tariff policy, which is placing a heavy burden on the Bavarian economy and companies. Tariffs make Bavarian exports more expensive and create additional administrative effort for companies. Companies are responding flexibly to the rapid changes and uncertainty of recent months by actively communicating with their business partners. The costs of US tariffs are borne by the people of the US. Whether this burden on the people will lead to a change in US policy remains uncertain.

The event showed that Bavaria and the US remain closely linked through trade and investment. From the vbw's point of view, a united European front and confident promotion of the Bavarian economy's capabilities contribute to the success of transatlantic relations.

Speakers and panel participants

• Bertram Brossardt, CEO, Bavarian Industry Association
• Dr. Meike Zwingenberger, CEO, Stiftung Bayerisches Amerikahaus gGmbH
• Cathryn Clüver Ashbrook, Executive Vice President/Senior Advisor, Bertelsmann Stiftung
• Dr. Christoph Schemionek, President & CEO, Delegation of German Industry and Commerce in Washington, DC
• Hirohito Imakoji, Managing Director, Liebherr USA, Co
• Ishita Aggarwal, Chief Financial Officer and Executive Vice President, Siemens Corp. USA

Moderator: Peter Müller, Editor-in-Chief, Augsburger Allgemeine