Economist Fears 80 Percent Drop in Exports

According to economic expert Gabriel Felbermayr, permanent punitive tariffs of 50 percent on EU goods would be an "economic catastrophe" for Germany and would lead to a renewed recession. "Exports would collapse massively in the long term, and the EU would have to respond with countermeasures, which would in turn also affect imports," Gabriel Felbermayr, Director of the Austrian Institute for Economic Research, told the newspapers of the Funke M…