The German economy is going through a period of stagnation, German Minister of Economy and Energy Katerina Reiche said in an interview with Bild newspaper.
“The situation is serious. We already have 3 million unemployed people. We have been in a phase of no growth since 2019,” said Katerina Reiche.
The Minister noted that the positive episodes of German foreign trade relations are only periodic, linking them with the export of goods to the United States, an agreement on which was reached before the introduction of new customs duties.
“Energy prices are high, labor costs are very high, and our country really needs a recovery program,” Reiche added.
Earlier, the United States imposed 15 percent duties on European exports.
