Overview
- A DZ Bank poll of roughly 1,000 firms shows net interest in U.S. supply‑chain engagement at minus ten points, with 9% expecting a larger role and 19% a smaller one.
- About half of companies plan to move sourcing and sales closer to home, prioritizing Germany and European partners as they diversify away from single large markets.
- India is gaining appeal for new links while the United States and China register declining attractiveness for many medium-sized companies.
- Only 12% report direct hits from U.S. tariffs, yet 44% in the autumn survey—down from 50% in the spring—felt indirect effects through pricier inputs or weaker customer demand.
- Planning certainty remains strained, with 23% flagging it as a problem and exposure concentrated in electrical, automotive/metals/machinery, and chemical industries, while IW Köln notes a roughly 45% drop in German direct investment in the U.S. early in Trump’s term to €10.2 billion.