Exclusive: German investments in US nearly halve in Trump’s first year back, report shows

First-year Trump policies coincide with steep decline in German capital flows to U.S.

German companies pulled back on investment and exports to the U.S. during the first year of President Donald Trump’s second term, hit by trade uncertainty and higher tariffs, according to a report by the German Economic Institute (IW) seen by Reuters on Monday.

Over the period from February to November 2025, German firms invested around 10.2 billion euros ($11.1 billion) in the United States, down from almost 19 billion euros in the same period a year earlier, a decline of roughly 45%, the study showed, using data from the German Bundesbank.

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