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Wednesday, 13 June 2018 13:38

Merkel Rejected Trump's Position on Bilateral Trade

Written by PL
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German Federal Chancellor Angela Merkel rejected a criticism by US President Donald Trump regarding the alleged German trade surplus.

 

Berlin.- In a conference before the Economic Council of this country, a union close to the governing Christian Democratic Union (CDU), Merkel said today that this statement, far from reality, shows that the US government considered only the exchange of goods and excluded services.

The inclusion of the latter sector in the assessment would show a large surplus in favor of the United States, the Christian Democrat added.

In the German press, several economists denied with technical arguments and official figures Trump's version, according to which bilateral trade with Germany harms the economy and the labor market of his country.

In her speech, Merkel also stressed that Germany's direct investments in the United States are superior to those of that nation in Germany. With regard to the conflicts during the recent summit of the Group of 7, in Canada, the German chancellor said, referring to the European Union (EU), that 'we have the challenge of reacting with one voice.'

The last weekend, during that event, the positions of the EU, Japan, and Canada on a common commercial policy clashed with that of the United States because Trump defended the punitive tariffs recently imposed by the White House on steel and aluminum imports.

Merkel announced that she will analyze the effects of this controversial measure to talk again with the US president about it. (PL)

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