U.S. economic policy under threat, warns Evonik's CEO, putting global economy at risk
Evonik CEO Warns of Global Entry Risks from US Trade Policies
Christian Kullmann, the CEO of German chemical giant Evonik, has expressed concerns about the potential impact of US trade policies on the global entry. In an interview with Handelsblatt, Kullmann called for a decisive response from Europe to the current global economic challenges.
Kullmann's comments come as the US administration continues to threaten new tariffs and question the effectiveness of long-term trade agreements. The CEO did not specify which agreements are in doubt, but he highlighted the repeated threat of new tariffs as a critical point for the global entry.
"The half-life of such an agreement may be short," Kullmann said, questioning the reliability of trade deals between the European Union and the United States. He also expressed optimism that both the new German government and the EU Commission will provide necessary support to the economy, but added that more determination from companies and politics in Europe is needed.
Kullmann's concerns are not limited to the chemical industry. He sees the spreading uncertainty and fear of unpredictable US government measures as a threat to the global entry. He finds it naive to think that a trade deal can eliminate uncertainty and believes that Europe should adopt a strategy of "Economy first" in response to the US's "America first" approach.
The German federal government has emphasized ongoing support for competitiveness in the EU and economic initiatives aligned with fair competition and innovation, as detailed in a Bundestag document. However, the specific response Kullmann calls for from Europe is not detailed in the article.
An investment summit will take place in Berlin on Monday, with leading CEOs meeting with Federal Chancellor Friedrich Merz (CDU). It remains unclear how other countries or organizations are responding to Kullmann's concerns.
Despite the uncertainty, Kullmann expects US policy to remain volatile, increasing the risk for the global entry. He pointed out that Evonik is not involved in the investment summit, but his comments underscore the growing concerns about the impact of US trade policies on the global entry.
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