The German government is concerned about the effect Trump's presidency would have on the US economy

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The ministry expects "shrinking gross domestic product, fewer jobs and higher unemployment," in the United States if the Republican candidate were to implement his campaign pledges, the magazine cited the memo as saying.

Trump, a billionaire businessman seeking his first public office, has proposed tax cuts worth $4.4 trillion and wants to curb government regulation and take a tougher stance on negotiating trade deals.

He says his economic plan would produce annual economic growth of 3.5 percent and create 25 million jobs over a decade. But some economists have questioned the assumptions underpinning the plan.