Big German fund manager Deka criticises Trump tariff plans
ReutersApr 8, 2025 8:28 AM
FRANKFURT, April 8 (Reuters) - Deka, one of Germany's largest fund managers, sharply critised U.S. President Donald Trump's tariff plans on Tuesday, saying they could lead to lower growth and high volatility in the markets for months.
"Instead of 'Make America Great Again', Trump is working on the project 'Make America less important'. Both economically and geopolitically," said Matthias Danne, a Deka board member.
Danne said the plans would lead, in the short term, to a reduction of gross domestic product of 1.75 percentage points for the United States, half a percentage point for the euro zone and 0.75 of a percentage point for the global economy.
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