Despite significantly higher energy prices in Europe, the leading German business associations do not anticipate major emigration to the USA.
"We do not expect a mass exodus of investments," said the President of the industry association BDI, Siegfried Russwurm, to the Reuters news agency.
However, locations with lower energy costs are particularly attractive for energy-intensive companies - such as the USA at the moment.
“The ambition to change our country, which was mentioned in the traffic light coalition agreement a year ago, must not remain lip service.
We need more agility at the site.”
In a Reuters survey before Christmas, the Association of German Chambers of Industry and Commerce (DIHK) also emphasized that the USA is currently a particularly attractive country.
"Relevant in the location decision are not only the access to suppliers or skilled workers, but also the labor costs or energy costs," explains DIHK President Peter Adrian.
Cheaper than in Southeast Asia
In the USA, prices are significantly lower than in Germany, but also lower than in Southeast Asia.
“The size of the market also speaks in favor of a commitment in the USA.
The announced tax incentives as part of the Inflation Reduction Act create additional incentives here.”
Adrian is referring to the US government's huge subsidy package to encourage investments in climate protection, but also to lure companies to the USA with tax advantages.
The EU is currently looking for a suitable answer.
For Europe, the legislation is a reality check that the US is primarily pursuing its own interests, says Dirk Jandura, president of the wholesale association BGA.
However, Germany and the EU should not respond with isolation, but rather work on their own competitiveness.