Trade war with China could cost Germany six times as much as Brexit, study shows

BERLIN – Germany would face costs almost six times as high as Brexit if it and the European Union were to shut China out of their economies, the Ifo institute said on Monday, citing the results of a study.

The biggest losers of a trade war with China would be the automotive industry with a 8.47 percent loss of value-added, manufacturers of transport equipment with a 5.14 percent loss and mechanical engineering with a 4.34 percent loss, the Ifo said.

The authors of the study, commissioned by the VBW Industry Association, said companies should pivot toward other countries to reduce dependency on certain markets and authoritarian regimes.

The goal of German and EU economic poli…

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