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German exporters fear punitive levy in U.S. tax overhaul.

German exporters fear punitive levy in U.S. tax overhaul.

BERLIN: BERLIN, Dec 5 (Reuters) – Germany’s DIHK chambers of commerce and industry lifted their export growth forecast for this year but warned on tuesday that a U.S. tax reform bill could harm German exporters.

The DIHK said it expects German exports to grow by 4.5 percent in 2017, higher than a previous estimate of 4.0 percent.

It added that President Donald Trump’s overhaul of the U.S. tax system includes levies that amount to taxes on imported intermediate goods and this was alarming German companies. (Reporting by Gernot Heller; writing by Joseph Nasr; editing by Madeline Chambers)