Deniz Undav made an impressive debut for Germany, scoring on his first start, while captain Joshua Kimmich added a second goal to give the team a 2-1 lead at halftime. The Dutch had taken an early lead through Tijjani Reijnders.
But the hosts recovered to equalise through Denzel Dumfries early in the second half in a game played at a quick tempo and with occasional flashes of temper to make it a spicy derby.
Germany top the standings, level on four points with the second-placed Netherlands, after both won their opening group games on Saturday. Bosnia, who are third, and Hungary in fourth place have a point apiece after they drew 0-0 in Budapest.
Netherlands, who beat Bosnia 5-2 in their opener, got off to a dream start as a perfect through ball from Ryan Gravenberch set Reijnders away to storm down on goalkeeper Marc-Andre ter Stegen and expertly tuck the ball into the net.
The Dutch had two more clear-cut chances to extend their lead but Dumfries headed wide from Xavi Simons’ 15th minute free kick and five minutes later Simons had a chance of his own, with only the keeper to beat, after another accurate pass from Gravenberch, but hit his effort straight at Ter Stegen.
But while the home side created opportunities, the Germans dominated possession, moving the ball around quickly, and soon had the Dutch on the back foot.
Germany's Jamal Musiala intercepted an errant pass from Matthijs de Ligt, who had a similar defensive lapse against Bosnia, to set up the 38th minute equaliser for Undav.
The visitors were ahead on the stroke of halftime after stretching the Dutch defence, who had by then lost Nathan Ake to a suspected hamstring injury that saw him carried off on a stretcher.
Robert Andrich’s long pass to the left wing was hooked back across goal by David Raum, who showed resolute determination, and the unmarked Kimmich had an easy back post tap-in.
De Ligt was replaced for the second half amid several tweaks by coach Ronald Koeman that served to get his side back into the game.
Striker Brian Brobbey’s strength saw him hold off defenders and get the ball square for Dumfries to make it 2-2 six minutes into the second half to the delight of the Amsterdam crowd.
Germany then squandered three good opportunities to retake the lead as Kai Havertz missed from close range, Undav then unsuccessfully tried to chip keeper Bart Verbruggen and finally Raum headed wide at the back post.