German minister denounces Trump orders on trade deficits
Germany has denounced US President Donald Trump for signing executive orders on trade deficits and import duty evasion as signs of Washington’s moving away from international agreements.
“They show, however, that the US obviously wants to move away from free trade and trade agreements,” the German Economy Minister Brigitte Zypries said on Saturday.
Zypries said that she will discuss the issue with US officials during her visit to Washington in May and “explain that the reasons for the US trade deficit are not just abroad.”
On Friday, Trump signed two executive orders as he said the US should make trade deals fairer with overseas partners and end the theft of American prosperity.
In the controversial signing ceremony, the president left the office abruptly before signing the orders as a reporter asked him questions about his former national security adviser, Michael Flynn, who has offered to testify on the alleged Russian involvement in the US election in return for immunity from prosecution.
Trump has also ordered his administration to clamp down on countries that abuse trade rules.
Recently, Trump’s trade adviser Peter Navarro accused Germany of exploiting other countries through a “grossly undervalued” euro.
For many years, Germany has been exporting more goods to the US than it exports to Europe’s biggest economy. This is largely because of the relatively strong competitiveness of German firms and the high demand among US clients for goods labeled “Made in Germany.”
According to data from Germany’s Federal Statistics Office, the resulting US trade deficit with Germany has nearly doubled in the past 10 years. The figures soared from some 28.8 billion Euros in 2006 to 49 billion Euros in 2016.
German Chancellor Angela Merkel who said the European Central Bank is in charge of the euro and the central bank is a politically independent body reacted sharply to Trump’s accusations.
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