Trump's tariff machine gun / Merz's fiscal bazooka

In a few short weeks, Donald Trump has already done so much to impose his "America First" policy that the economic and geopolitical order has been upended. Tariff instability has already broken the records of 2018-2019 and this time the offensive is not limited to China. Europe is also in the crosshairs, which is likely to weigh on its growth in the short term. At the same time, Europe faces the risk of a military disengagement by the US. Panic-stricken, European leaders have reacted by saying they were ready to embark on the path of rearmament. In Germany, there is also a massive infrastructure investment plan. If these projects are actually carried out, they could be enough to shake Europe out of its torpor.