BERLIN, May 20 (Reuters) - The wave of new U.S. tariffs

has severely dampened the mood among exporters and 42% of

companies now expect their export revenues to decline markedly,

according to a global survey by Allianz Trade published on

Tuesday.

The credit insurer surveyed 4,500 exporters in Germany,

France, Italy, Spain, Poland, Britain, the United States,

Singapore and China about global trade in March and April,

before and after the tariffs spiral on April 2.

Before Donald Trump's 'Liberation Day', when the president

announced new tariffs against almost all trading partners, only

5% of companies had expected their export revenues to decline.

"In stark contrast to the great optimism before 'Liberation

Day', this year's Global Survey confirms what we're observing in

all markets: uncertainty and fragmentation will be with us for a

long time," said Aylin Somersan Coqui, CEO of Allianz Trade.

Globally, export losses of $305 billion are expected in

2025, she added.

Germany had been expected to be badly affected by tariffs

due to its export-oriented economy. In Germany, 39% of

respondents expect a decline in their export revenues following

the tariff announcement.

German exporters were significantly more concerned about

geopolitical risks and protectionism (35%) than their

counterparts in other countries (29%).