German business from carmaker BMW AG to engineering giant Siemens AG depend on the hunger of U.S. consumers to own their sales. President Donald Trump states he has actually had enough.
Trump lit into Germany once again Tuesday, grumbling on Twitter about the United States &#x 2019; s &#x 201C; MASSIVE trade deficit &#x 201D; with Europe &#x 2019; s biggest economy. Recently, conference with European Union leaders, Trump stated Germany is &#x 201C; extremely bad &#x 201D; for flooding the United States with automobiles. Germany published a record trade surplus in 2016, and cars and trucks were undoubtedly a huge factor.
The U.S. took in 107 billion euros of German exports in 2015, making it the most significant market for German products. The United States likewise offered 58 billion euros of items to Germany at the exact same time, leading to a 49-billion-euro trade deficit for the United States. The U.K. &#x 2019; s deficit with Germany was even larger, according to German federal government data.
For lots of German business, the United States represents among their most profitable markets. Some, like BMW, manufacture items in the United States, offering tasks, even if the earnings go overseas. BMW &#x 2019; s most significant factory internationally remains in Spartanburg, South Carolina.
Read more: http://www.bloomberg.com/news/articles/2017-05-30/cars-machinery-drive-german-surplus-with-u-s-that-vexes-trump
