Economic policy
US companies are demanding reforms from the new federal government
The Amazon logo can be seen on the facade of the logistics center in Gera, Thuringia. Photo: Bodo Schackow / dpa-Zentralbild / dpa
© dpa-infocom GmbH
American companies are important employers in Germany and are also active in large takeovers. They see the local location as mostly positive – but urge the speed of digitization.
US companies in Germany are urging reforms from the new federal government.
Politicians must develop ideas that promote Germany’s innovations and competitiveness in the long term and sustainably, said Simone Menne, President of the American Chamber of Commerce in Germany (AmCham Germany), in Frankfurt on Tuesday. “The focus should be on climate change, the digital transformation and coping with the economic and social consequences of the corona pandemic.” It is crucial to set the course so that US companies continue to invest.
In a survey of the 50 US companies with the highest turnover in Germany, they rated Germany as a location with a grade of 2.4 – significantly worse than in 2020 (1.9). Measures in the pandemic such as short-time work benefits, the rescue package for the self-employed and medium-sized companies, extra money for families and help for artists were praised. In contrast, American companies saw some catching up to do in government investments and the digitalization of administration.
The most important transatlantic issues for companies are climate protection and the abolition of tariffs. As a step in the right direction, Menne welcomed the latest compromise in the dispute over US special tariffs on steel and aluminum from the EU.
In the 2020 financial year, the pandemic also affected the largest US companies in Germany. The total turnover of the top 50 fell by 1.4 percent to around 189 billion euros, while the number of employees rose slightly to 276,500. Above all, companies from the retail and pharmaceuticals sectors increased their sales significantly – including those Amazon or Abbott and Thermo Fisher with lab equipment. Despite the corona pandemic, foreign direct investments by American companies in Germany rose sharply. Germany remains an exciting market for US companies, which has also been demonstrated by several large takeovers, said AmCham Vice President Frank Riemensperger.
In the ranking of the companies with the highest turnover, Amazon Germany was ahead with 25.9 billion euros in revenue, ahead of the car manufacturer Ford (15.7 billion) and the elevator manufacturer Thyssenkrupp Elevator (7.9 billion), which had been taken over by Anglo-Saxon financial investors. Among the largest employers, the fast food chain McDonald’s was in first place with 63,000 employees in Germany, followed by Amazon Germany (23,000) and the Ford works (a good 21,400).