Presidential races

Report: German gov’t thinks Trump would wreck US economy

Greg Nash/The Hill

An analysis conducted by the German Finance Ministry concluded that it would be disastrous for the country’s businesses if Donald Trump becomes president of the United States, the German magazine Der Spiegel reported Friday.

{mosads}The internal memo, which was obtained by Der Spiegel, argues that a Trump presidency would lead to “a shrinking gross domestic product, fewer jobs and higher unemployment,” all of which would harm Germany’s export industry.

The report said that the real estate mogul’s economic proposals “aren’t feasible,” violate both U.S. and international laws and do not “provide the foundation for a realistic economic policy.”

Trump has vowed to renegotiate international trade deals, place high taxes on imported goods and make substantial tax cuts for U.S. corporations.

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