After 20 months, the lifting of the ban on entering the US due to the pandemic causes relief not only to tourists but also to German companies.
After a year and a half and a little more, fully vaccinated and citizens of EU countries who show a negative test can travel to the US again from Monday, November 8. As of today, the travel ban that was in force in the USA due to the pandemic is being lifted. Many German companies are welcoming the measure, according to Volker Trier, head of the Foreign Trade Department at the German Chamber of Commerce and Industry DIHK. According to DW, “for the German economy, the US is the most important export market and the most important trading partner of the country”.
Due to the ban on entering the United States due to the special restrictions that were in place to deal with the pandemic, many companies suspended their normal commercial activities. “The latest figures show that 73% of German companies operating in North America have been affected by travel restrictions, with supply chain problems as a result of the pandemic,” Trier said.
Serious obstacles for German companies in the US
35% of German companies operating in the US were also forced by the pandemic to postpone or cancel planned investments by 2021. The lifting of the travel ban could have a positive effect on German business activities in the US, says Volker Tray.
According to DIHK, more than 5,500 German companies have branches in the US, having created almost 900,000 jobs and sales of about $ 532 million. The volume of bilateral trade amounts to 171.5 billion euros. German exports alone are estimated at 103.8 billion euros. More than 8% of all German exports, especially in the automotive, chemical and engineering sectors, are destined for the USA. Experts estimate the total damage to German business in the US due to the restrictions imposed during the pandemic period in double digits of billions of dollars.
It is in the interest of Germany and the United States to lift the restrictions
“The restrictions imposed by the United States are finally being lifted. Business travel between Europe and the United States is resuming, leaving the pandemic behind,” Ulrich Ackermann, a trade expert at the VDMA Association of Mechanical Engineers, told DW. The travel ban in the US has had a profound effect on the German engineering sector. Representatives of German and European companies in the industry could not visit their US branches or participate in trade fairs for 20 months.
Wolfgang Niedermark, a member of the executive council of the Federation of German Industries (BDI), also told the French news agency that this would put an end to delays in production, deliveries and the execution of important strategic projects. According to Niedermark, it is in the financial interest of both Germany and the United States to return bilateral trade to its pre-pandemic status as soon as possible.
Ulrich Klaus
Edited by: Dimitra Kyranoudi
Source: Deutsche Welle
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Source From: Capital

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