Hamburg Chamber of Commerce: Trump’s Greenland Tariffs a Threat to Local Economy
Hamburg, January 19 – US President Donald Trump’s announced tariffs regarding the Greenland issue, set to impose an additional ten percent duty from next month and significantly more by summer, are casting a shadow over Hamburg’s economy. The Hamburg Chamber of Commerce views these measures as a significant threat to local businesses, particularly in light of an already dampened economic outlook.
Malte Heyne, Chief Executive of the Hamburg Chamber of Commerce, stated in an interview with NDR 90.3 that companies are largely powerless in the face of these new US tariff threats. Heyne noted that while it’s not unusual for the economy to become a pawn in political interests, it is a new development that this is now happening between partners. The export of goods to the USA already saw a decline of approximately ten percent last year, and Heyne fears that this negative trend could continue to grow this year.
Economic Barometer: Slight Recovery, but Skepticism Remains
These developments come despite a recent economic survey indicating a slight improvement in the export expectations of Hamburg’s businesses. However, the survey, conducted between mid-December and mid-January, also revealed that more companies plan to reduce their investments rather than increase them. The same sentiment applies to the number of employees.
Leveraging Mercosur Agreement Opportunities
In light of recent international developments, the Chamber of Commerce emphasizes the increased importance of strengthening Hamburg’s own competitiveness. This includes measures such as reducing taxes and duties, as well as cutting down on bureaucracy. Furthermore, the EU should intensify its efforts to seek new trading partners and conclude agreements with them, following the successful completion of the Mercosur free trade agreement with South American states.
US Tariffs Over Greenland: Outrage and Criticism from Lower Saxony
Bernd Lange, an EU Member of Parliament, stressed that the EU must take a firm stance. The IG Metall union has labeled Trump’s threats as ‘poison’.
Punitive Tariffs Over Greenland – Also Against Germany
Due to the dispute over Greenland, US President Trump has announced punitive tariffs against a total of eight European countries, including Germany. The ten percent surcharges are set to take effect from February 1st.
What the Mercosur Agreement Means for the Economy
The EU hopes that the free trade agreement signed today with the South American Mercosur bloc has opened up a new market. The agreement is about growth – and not least about confronting China. By Paula Protzen.
This topic was broadcast on: NDR 90.3 | NDR 90.3 Aktuell | 19.01.2026 | 06:00 Uhr
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Source: NDR 90,3
