The Trump administration has put emphasis on having "fairer" trade deals with other countries, vowing to renegotiate existing agreements like the North American Free Trade Agreement (NAFTA) with Mexico and Canada.
"I think they have promoted, personally, free trade, and therefore I think they most probably will be disappointed because Germany is a country that`s relying heavily on export.
And since we are (a) strong industrial nation, we rely on good relations (with) all the countries we do trade with," he said, adding that the difficulty of realizing free trade agreements in the current environment is becoming a concern for German industry.
Denner said the administration`s emphasis on recovering manufacturing jobs lost to low-cost overseas locations was understandable, but the road will likely be tough.
That trend, Denner said, is a big concern for Bosch, which has an extensive presence in the U.S. through manufacturing and R&D facilities.
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