Saxony's exports to the USA have slumped following the first tariff increases imposed by US President Donald Trump. In May, the State Statistical Office recorded a drop of a fifth compared to the previous month. Goods worth around 366 million euros were exported. Compared to May 2024, the year-on-year decline amounted to 16%. Looking at the total for the first five months, however, the export volume to the USA this spring was slightly higher than in 2024.
First effects of the tariff policy
From the perspective of Saxony's economic development agency, the first effects of Trump's tariff policy are already becoming apparent in 2025. "Saxony mainly exports automotive products and therefore products from an industry that has been a particular focus of US customs policy in recent months," said a spokeswoman. The figures also showed the uncertainty for companies.
At the beginning of April, Trump announced a global tariff package. After some back and forth, a basic tariff rate of ten percent applied to EU exports to the USA in May, as well as sector tariffs of 25 percent on imports of cars and car parts and tariffs of 50 percent on steel and aluminum products. From August 7, a tariff of 15 percent will apply to EU exports to the United States.
