Germany V USA: Merkel flies in for tense Trump talks surrounded by German business moguls
DONALD Trump is facing frosty trade talks with Angela Merkel after she flew in to Washington flanked by the chief executives of BMW and Siemens.
By JON ROGERS
Express.co.uk
Mon, Mar 13, 2017
There have been rumblings of disquiet between the two countries with the Trump administration accusing the European country of keeping the euro artificially low in order to gain a competitive advantage for its exports.
To compound the issue Congress is considering a new company tax which would make imports more expensive and exports tax-free. This would help the US address its trade imbalance with Germany of around £44billion (€50billion).
They say Germany, enjoying the benefits from a trade surplus, has seemingly stuck its head in the sand and failed to address US concerns.
Berlin, effectively, argued that it is not their problem if they produce good exports that countries want to buy.
US concerns have also been mirrored by some of Germany’s European partners in the European Union and the European Commission itself.
Germany’s advantage has also been helped by the European Central Bank’s (ECB) policy of quantitative easing which has kept the euro below the market rate.
The Rest…HERE
