Frankfurt: The main stock index in Germany, the DAX, recorded a significant decline of 10 percent on Monday, driven by the ongoing tariff dispute with the United States. The Frankfurt-based stock exchange reported that the DAX, which tracks Germany's 40 largest companies, dropped to 18,489 points. According to Kuwait News Agency, this decline follows the new tariffs imposed by the Trump administration on foreign goods. The tariffs have sparked concerns that the German economy, Europe's largest, will be one of the hardest-hit European economies. Germany's heavy reliance on US markets, alongside the presence of German automakers' factories in neighboring countries like Canada and Mexico, further exacerbates these concerns. The Trump administration recently implemented a 10 percent tariff on all imports starting Saturday, April 5, with a 20 percent tariff on European Union imports set to be enforced on Wednesday, April ninth.
