The German press comments on the “black Monday” of the stock markets after Trump’s duties, as well as the proposal of Ilon Musk for free trade between Europe and America. The “Black Monday” of the EU and US Stock Exchange, as a result of Donald Trump’s commercial policy, monopolizes the interest of the German press.

“The crucial question now is this: We have experienced the climax of the stockpile or will the downward trend continue in the coming days? “Asked the Handelsblatt financial inspection. ‘Although even professional analysts find it difficult to answer this question […] It is clear that the situation remains extremely dangerous. There are a whole series of warning signs, which show that markets are not going to calm down yet.

[…] US Secretary of State Marco Rubio said that the collapse of the US stock market is part of a “larger plan”, aimed at launching a new, magnificent era for the American economy. The problem, however worse“

“Until now Trump’s duty package […] He has accomplished the opposite of what the US president promised, causing losses of hundreds of billions of dollars around the world, even in the US itself, where among other things, the security of many people’s pensions depends largely on the stock market developments.“, Observes Frankfurter Allgemeine Zeitung.

“With duties, Trump puts everything in danger, and the marches of the shares, as well as the cost of products of everyday life. Investors around the world are in a real economic shock – rarely for example the German stock market index starts the week with a minus 10%“

Politicians, experts and investors “maintain increasingly smaller hopes – based on the fact that Trump may have had other things in mind when he imposed the duties. In making use of duties only as a means of negotiation, in order to close profitable agreements and then withdraw them again. But how believing is this scenario? “The Frankfurt newspaper wonders. “Probably at all.”

Even Ilon Musk, a close associate and adviser to Trump, essentially called for the abolition of all duties between Europe and the US and the creation of a large free trade zone.

“Ilon Musk is right”

“Ilon Musk is right“, Commented by Süddeutsche Zeitung on the proposal of the American billionaire. “The best that can happen now is a state of zero duties, from which a free trade zone between Europe and the US will emerge. Even Musk, until recently one of Trump’s closest consultants, refers to what the American president “kills” with the duty policy that follows: the free trade. Let’s only hope Trump will hear him listen to him“

As the German medium still adds, “Musk is not the only one who calls on Trump’s protectionism. The head of Tesla, Space-X and Starlink speaks on behalf of the American economy. Duties have a major impact on businesses: Even for Nike, which produces shoes in Vietnam and whose products will have 46% duties when they are imported into the US, Apple, which produces phones in China and will be charged 34% duties. And of course the companies of Musk itself: Tesla does not only produce cars in the US, but also in China and Europe (20%duties). Trump’s duties make the products more expensive and disturb the supply chains significantly. The volume of world trade will be significantly reduced – and then the same will happen with the prosperity it brings. “