Economics in Brief

The policy of the US administration, which has been in office since January 2025, is also impacting German small and medium-sized enterprises. More than half of all SMEs with transatlantic business relations have so far been negatively affected. For the SME sector as a whole, however, the consequences are moderate. These are the representative results of a recent survey conducted by KfW Research. One consequence of US trade policy for many SMEs is withdrawal from the US market. The high level of uncertainty regarding US tariffs following the Supreme Court ruling could further reinforce this trend.

Many SMEs are withdrawing from the US market(PDF, 130 KB, accessible)

Press release