德国10年期国债收益率跌至2.5%，为3月4日以来的最低水平，因为全球贸易紧张局势加剧了人们对经济放缓的担忧。周五，中国宣布从4月10日起对所有美国商品征收34%的关税，以报复特朗普政府对所有进口商品征收10%关税的举动。美国还对特定国家征收更高的关税，包括对欧盟商品征收20%的税，对中国产品征收34%的额外关税。在欧洲，法国总统埃马纽埃尔·马克龙呼吁企业暂停在美国的投资，而欧盟委员会则准备采取报复措施。与此同时，唐纳德·特朗普总统淡化了对通货膨胀和经济衰退的担忧。作为回应，市场现在认为欧洲央行4月份降息25个基点的可能性超过90%，预计到12月存款利率将从目前的2.5%降至1.65%

Germany’s 10-year Bund yield fell to 2.5%, its lowest level since March 4, as rising global trade tensions stoked fears of an economic slowdown. On Friday, China announced a 34% tariff on all U.S. goods starting April 10, retaliating against the Trump administration’s move to impose a 10% tariff on all imports. The U.S. also introduced steeper duties for select countries, including a 20% levy on EU goods and an additional 34% tariff on Chinese products. In Europe, French President Emmanuel Macron called on companies to pause investments in the U.S., while the European Commission prepared retaliatory measures. Meanwhile, President Donald Trump downplayed concerns over inflation and recession. In response, markets now price in over a 90% probability of a 25 basis point ECB rate cut in April, with expectations for the deposit rate to decline to 1.65% by December, down from the current 2.5%

法兰克福DAX指数下跌1363点。亏损最多的是莱茵金属公司（-17.72%）、德国商业银行（-11.44%）和MTU航空发动机公司（-11.17%）。

In Frankfurt, the DAX Index is dropping 1363 points. Leading the losses are Rheinmetall (-17.72%), Commerzbank (-11.44%) and MTU Aero Engines AG (-11.17%).

法兰克福DAX指数周一下跌超过7%，延续了上周的广泛抛售和表现不佳的欧洲同行，这是由美国总统唐纳德·特朗普的贸易战和中国对意外高关税的报复性反应引发的。特朗普周末的言论警告外国政府，他们将不得不支付“大量资金”来取消全面关税，这给全球市场带来了进一步的压力。此外，人们越来越担心中国以人为压低的价格向欧盟出口激增，这可能会破坏德国的工业部门。从行业角度来看，受影响最严重的行业包括工业、银行、科技、汽车和保险。德国最大的武器制造商、欧洲第五大武器制造商莱茵金属公司股价暴跌25%以上。

Frankfurt's DAX tumbled more than 7% on Monday, extending last week's broad selloff and underperforming European peers, triggered by US President Donald Trump’s trade war and China’s retaliatory response to unexpectedly high tariffs. Trump's remarks over the weekend, warning foreign governments they would have to pay "a lot of money" to lift sweeping tariffs, introduced further pressure on global markets. Moreover, there are growing concerns about a surge in Chinese exports to the EU at artificially low prices, which could undermine Germany’s industrial sector. Sector-wise, the hardest-hit industries included industrials, banking, technology, autos, and insurance. Rheinmetall, the largest arms manufacturer in Germany and the fifth largest in Europe, plummeted by more than 25%.

2025年2月，德国的进口额环比增长0.7%，达到1138亿欧元，较上月上调的5%有所缓和。来自欧盟国家的入境人数增长了2.3%，主要是由于来自欧元区（2.8%）和非欧元区（1.4%）的购买量增加。与此同时，来自第三国的游客人数下降了1%，主要原因是来自美国（-3.9%）、英国（-5.2%）和俄罗斯联邦（-4.5%）的购买量下降。

Imports to Germany increased by 0.7% month-over-month to EUR 113.8 billion in February 2025, easing from an upwardly revised 5% gain in the previous month. Arrivals from EU countries grew by 2.3%, mainly due to increased purchases from both the Euro area (2.8%) and the non-Euro area (1.4%). Meanwhile, arrivals from third countries declined by 1%, primarily driven by lower purchases from the US (-3.9%), the UK (-5.2%), and the Russian Federation (-4.5%).