German economic adviser sees higher US tariff risks after midterms
Published . Updated .
Covered by 6 outlets: Raleigh News & Observer, StreetInsider, Reuters, The Lufkin Daily News, Euronext Markets: Real-time Stock Market Data | live, Central Oregon Daily.
Who covered it: Center 1 · Not rated 5. How we rate outlets
Key takeaways
- BERLIN, Nov 11 (Reuters) - The outcome of the US midterms is unlikely to soften Washington's protectionist trade stance and may instead increase uncertainty around tariffs, warned Gabriel Felbermayr,
- Exposed: XLI, XRT, EWG, CAT, DE
- Market reaction: XRT −1.3% on the day (still updating); XLI +0.8% on the day (still updating); CAT +1.8% on the day (still updating)
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BERLIN, Nov 11 (Reuters) - The outcome of the US midterms is unlikely to soften Washington's protectionist trade stance and may instead increase uncertainty around tariffs, warned Gabriel Felbermayr,
Directly affected
- No company is named in this report.
Indirectly affected
- XLI Industrial Select Sector SPDR-0.2% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- XRT SPDR S&P Retail ETF
SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- EWG iShares MSCI Germany ETF-1.6% 15d
iShares MSCI Germany ETF holds stocks listed in Germany, which this story is about (“german”).
- CAT Caterpillar-27.9% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- DE Deere+0.1% 30d
Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- WMT Walmart+20.2% 30d
Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- NKE Nike+8.2% 30d
Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLI | +0.40% | -3.60% | base | +0.79% | after close | after close | after close |
| XRT | +1.39% | -3.19% | base | -1.26% | after close | after close | after close |
| EWG | +1.32% | -3.11% | base | -0.51% | after close | after close | after close |
| CAT | +1.14% | -4.42% | base | +1.79% | after close | after close | after close |
| DE | -1.67% | -2.10% | base | +0.06% | after close | after close | after close |
| WMT | +2.97% | -0.02% | base | -1.30% | after close | after close | after close |
| NKE | +4.73% | -0.18% | base | -1.45% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
German economic adviser sees higher US tariff risks after midterms Raleigh News & Observer
Source: Raleigh News & Observer
The price since 11 Nov 2026: Select Sector Spdr Tr (XLI) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Caterpillar (CAT) | that day | +1.79% | still updating |
| Caterpillar (CAT) | three days earlier | -4.42% | final price |
| Caterpillar (CAT) | five days earlier | +1.14% | final price |
| Deere (DE) | that day | +0.06% | still updating |
| Deere (DE) | three days earlier | -2.10% | final price |
| Deere (DE) | five days earlier | -1.67% | final price |
| Ishares (EWG) | that day | -0.51% | still updating |
| Ishares (EWG) | three days earlier | -3.11% | final price |
| Ishares (EWG) | five days earlier | +1.32% | final price |
| Nike (NKE) | that day | -1.45% | still updating |
| Nike (NKE) | three days earlier | -0.18% | final price |
| Nike (NKE) | five days earlier | +4.73% | final price |
| Walmart (WMT) | that day | -1.30% | still updating |
| Walmart (WMT) | three days earlier | -0.02% | final price |
| Walmart (WMT) | five days earlier | +2.97% | final price |
| Select Sector Spdr Tr (XLI) | that day | +0.79% | still updating |
| Select Sector Spdr Tr (XLI) | three days earlier | -3.60% | final price |
| Select Sector Spdr Tr (XLI) | five days earlier | +0.40% | final price |
| Spdr Series Trust (XRT) | that day | -1.26% | still updating |
| Spdr Series Trust (XRT) | three days earlier | -3.19% | final price |
| Spdr Series Trust (XRT) | five days earlier | +1.39% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 44 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Walmart (WMT) (held by a dependent child), worth $15,001 - $50,000 on 13 Oct 2026. That is 29 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Rohit Khanna sold Walmart (WMT) (held by a spouse), worth $1,001 - $15,000 on 7 Oct 2026. That is 35 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Pete Sessions sold Walmart (WMT) (held by a spouse), worth $50,001 - $100,000 on 2 Oct 2026. That is 40 days before publication. Filed 27 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Nike (NKE), worth $15,001 - $50,000 on 28 Aug 2026. That is 75 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Gilbert Cisneros sold Nike (NKE), worth $15,001 - $50,000 on 27 Aug 2026. That is 76 days before publication. Filed 10 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, sold Nike (NKE), worth $100,001 - $250,000 on 21 Aug 2026. That is 82 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Select Sector Spdr Tr (XLI)
Companies mentioned with this story
- XLI Select Sector Spdr Tr
For “German economic adviser sees higher US tariff risks after midterms,” Select Sector Spdr Tr (XLI) is linked, with no stored direction, medium confidence. Reason on file: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- XRT Spdr Series Trust
For “German economic adviser sees higher US tariff risks after midterms,” Spdr Series Trust (XRT) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- EWG Ishares
Ishares (EWG) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “German economic adviser sees higher US tariff risks after midterms.” Reason on file: iShares MSCI Germany ETF holds stocks listed in Germany, which this story is about (“german”)
- CAT Caterpillar
For “German economic adviser sees higher US tariff risks after midterms,” Caterpillar (CAT) is linked, with no stored direction, medium confidence. Reason on file: Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- DE Deere
For “German economic adviser sees higher US tariff risks after midterms,” Deere (DE) is linked, with no stored direction, medium confidence. Reason on file: Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- WMT Walmart
For “German economic adviser sees higher US tariff risks after midterms,” Walmart (WMT) is linked, with no stored direction, medium confidence. Reason on file: Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- NKE Nike
Nike (NKE) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “German economic adviser sees higher US tariff risks after midterms.” Reason on file: Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
Select Sector Spdr Tr (XLI)
Select Sector Spdr Tr (XLI) is the company in “German economic adviser sees higher US tariff risks after midterms,” the 11 Nov 2026 this story story.
Select Sector Spdr Tr (XLI) is on the page because Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
Also listed, Spdr Series Trust (XRT): SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
Dates and price levels for Select Sector Spdr Tr (XLI)
EWG traded between 40.30 and 42.32 across 12 sessions. The latest close on file is 41.20. XLI traded between 163.00 and 172.33 across 20 sessions. The latest close on file is 169.73.
A simple score for Select Sector Spdr Tr (XLI)
85 out of 100Price not final
“German economic adviser sees higher US tariff risks after midterms” scores 85 out of 100. The score uses 6 sources, and 7 linked companies. The price is not final yet.