German engineering companies are losing massive market share due to trade barriers around the world, according to a new report.
Globally its most successful sector, and represented by industry association VDMA, Germany’s engineering companies say they have lost between 70 and 100 percent of export markets in some countries.
The VDMA blames “egoism” and a climate of protectionism, according to Die Welt, which notes that subtle instruments such as localization initiatives and regulations, as well as the traditional blunt ones such as tariffs and subsidies, are being used to obligate companies to avoid buying from overseas machine builders. [Read more…] about German engineering companies losing massive market share due to subtle trade barriers
