00:01It's not easy to stay on top of every detail.
00:04But they have to here as suppliers for the auto industry.
00:08The situation in the US, their biggest export market, is fluid.
00:12Tariffs are on everyone's mind, and a reliable deal isn't in sight.
00:17They've become used to the ups and downs every day brings.
00:25Over the past months, ever since the new US administration came in,
00:29we've experienced a steady stream of new rules and regulation.
00:32That's poison for our business.
00:34We need a reliable framework.
00:36Our industry can adapt to a variety of scenarios.
00:39We have some flexibility, but we can't deal with an ever-changing situation.
00:44But that's exactly what they got.
00:47With the US levying tariffs on hundreds of EU steel and aluminium products.
00:52Tariffs of up to 50%.
00:55The Thiel & Hoche company is a specialist for tube-based components.
01:03The tariffs have irritated them.
01:06This uncertainty means that we have to be careful about investing.
01:12We're hesitant to trust the order outlook that we're getting from our customers in the US.
01:17Now some companies are cutting domestic investment.
01:22Others are expanding abroad.
01:25Like the Rebs company, a specialist for lubrication technology.
01:29The family-owned business employs 320 and has dealerships in the US as well.
01:36We're considering moving some of our production to the US.
01:45We've actually started preparing for it.
01:48We have an affiliate in Canada, close to the US border,
01:51and we would be able to utilize those employees in the US as well.
01:55The tariffs spat with the US, only one of many problems the German industry is facing.
02:04Companies are also worried about high salaries, rising energy costs, a lack of skilled labour,
02:10and too much bureaucracy.
02:14It would be beneficial, of course, to see less bureaucracy and to have a framework
02:19that would give us enough certainty and reliability to plan ahead.
02:23However, so far, German and EU politicians seem unable to help.
02:28But they need to or at least help companies become less dependent on the US.
02:33They could help by signing new trade agreements, many of which have been talked about for a long time.
02:42Like the agreement with the Mercosur countries, or a free trade agreement with India or Indonesia.
02:51The slow pace of EU politics makes it even harder for German companies
02:55to withstand the troubles brought upon by the US tariff war.
03:00Yeah, I think it's better to have a job for a job in Canada.
03:06It's impressive they don't have to do the job, it's a lot for them.
03:09The main thing is that a place to live in Canada.
03:11But after that, it's been a place to live in Canada.
03:16The new one has to be able to live in Canada.
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