BERLIN (Reuters) - Germany's BDI industry association said on Wednesday that corporate and income tax cuts planned by U.S. President Donald Trump could provide an impetus for the German and global economies, warning however that protectionism harbours dangers.
It said such measures, including an expected hike in U.S. defence spending, would push the dollar up by 5-10 percent against main global currencies, which could in turn moderately boost exports and investments in the euro zone and Japan.
It expects the German economy to grow 1.5 percent this year, and the global economy to expand by 3.5 percent.
(Reporting by Joseph Nasr and Madeline Chambers)
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