German Exports Unexpectedly Drop as Shipments to the US Sink

German exports unexpectedly fell for a second month as the value of shipments to the US plunged to their lowest level in almost four years amid President Donald Trump’s tariff campaign.

Total exports declined 0.5% in August from the previous month, the statistics office said. That compares with a 0.2% gain predicted in a Bloomberg survey. Shipments to the US retreated for a fifth month.

Overall imports sank 1.3%, bringing the trade surplus to €17.2 billion ($20 billion) from a revised €16.3 billion in July.

Thursday’s data come after two dire reports on the manufacturing sector earlier ...