The German government is considering scrapping a scheme that supports companies operating in Turkey. The move comes after reports surfaced that Turkey had issued a blacklist of German companies it accuses of supporting terrorism.
Unfazed by an escalating trade conflict between the US and China, German companies were able to log strong export figures for August. But there are no guarantees it will remain so rosy for the rest of the year.
Germany's leading economic institutes have warned a protracted trade conflict with the United States could have dire consequences for Europe's economies. Jobs and prosperity are at stake, the think tanks argued.
The IMF has cut its global economic forecast for 2018 and 2019, citing above all rising import tariffs between the US and China. A fall in trade volumes and manufacturing orders could hit Germany particularly hard.
President Steinmeier raised human rights issues in Turkey, prompting President Erdogan to accuse Germany of hosting terrorists. The Turkish president's visit is meant to ease tension between Ankara and Berlin.
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