Tools meet politics

2. July 2024

Exchange on strengthening the SME sector

Thomas Glockseisen, our Managing Director and Chairman of the Board of the Fachverband Werkzeugindustrie (FWI), recently met with two colleagues to discuss the challenges facing SMEs with various politicians.

With a turnover of 10 billion euros, the German tool industry plays a crucial role in the economy. However, issues such as supply chain guidelines, bureaucracy and high energy prices are weighing on our competitiveness. We are particularly affected by the Carbon Border Adjustment Mechanism (CBAM), which is to be welcomed in principle, but needs to be improved in its current form. The US punitive tariffs on German hand tools also remain a pressing issue that must be resolved in the long term.

In the coming weeks, further meetings are planned in the politicians’ constituencies to discuss these important issues in greater depth and develop sustainable solutions.