Tschentscher criticizes US trade policy - Hamburg's trade resilience shines despite 60% U.S. export collapse in 2025
Hamburg has faced significant trade challenges in 2025, with exports to the U.S. dropping by over 60 percent in the first nine months of the year. The sharp decline follows stricter U.S. tariff policies, which Mayor Peter Tschentscher publicly criticised. Yet, despite these setbacks, the city's overall trade figures have still grown, pointing to a shift in its global partnerships.
Hamburg's economy has long relied on strong ties with key trading partners, including the United States and China. But in 2025, U.S. tariffs hit local exporters hard, causing a steep fall in sales across the Atlantic. Mayor Tschentscher did not hold back in his criticism of former President Donald Trump's trade policies, calling them damaging to transatlantic commerce.
The city, known for its historic role as a trading hub, has not stood still. Instead, officials are actively seeking new markets and more dependable partners to reduce risks from geopolitical tensions and supply chain issues. While Germany's national trade data shows a 10 percent drop in exports to China and a near 9 percent rise in Chinese imports, Hamburg's own figures highlight a different trend: a noticeable rebound in exports elsewhere.
At the same time, Hamburg remains a firm supporter of free trade. The city has praised EU agreements like CETA with Canada and the Mercosur deal with Latin America, seeing them as vital for stable commerce. This commitment to open markets was also on display at the 2025 Matthiae Dinner, the world's oldest continuous banquet. The event honoured former Chancellor Angela Merkel and European Council President António Costa, reinforcing Hamburg's ties to European trade leadership.
Hamburg's trade landscape is changing rapidly. The city's ability to offset U.S. losses with growth in other regions shows its adaptability. With a clear focus on diversification and free trade deals, officials aim to secure Hamburg's position as a resilient global trading centre.
