. Earth Science News .
TRADE WARS
China overtakes US as Germany's top trade partner
by Staff Writers
Frankfurt Am Main (AFP) Feb 24, 2017


China overtook the United States last year to become Germany's biggest trading partner for the first time, official data showed, a shift likely to reassure Berlin as worries grow over US President Donald Trump's protectionist leanings.

The figures compiled by federal statistics office Destatis and seen by AFP on Friday showed that the total volume of trade between China and Germany climbed by four percent to just under 170 billion euros ($180 billion) in 2016.

France remained Germany's second largest trading partner while the US slipped from first to third place, as bilateral trade contracted by five percent to 165 billion euros.

The development comes as German firms and the government brace for a protectionist backlash under Trump, who has pledged to rip up free trade deals and threatened to slap punitive tariffs on German carmakers.

Berlin has struck back at Trump's complaints of an "unfair" trade imbalance with Germany, with Vice Chancellor Sigmar Gabriel memorably retorting that the US should "build better cars" if it feared German competition.

But analysts cautioned against reading too much into the latest trade rankings, pointing out that the change was mainly down to strong demand for imports from China.

The US meanwhile remained by far the biggest buyer of German goods, with exports totalling nearly 107 billion euros in 2016.

Imports from the US to Germany on the other hand amounted to just 58 billion euros.

By contrast, Germany imported 94 billion euros worth of goods from China, compared to exports of 76 billion euros, although this was a seven-percent increase on the year before.

"As long as the title of biggest trading partner is mostly determined by imports, it doesn't take away fears that protectionist measures under Trump could hurt the German economy," analyst Carsten Brzeski from ING-Diba bank told AFP.

While Gabriel has urged Germany to respond to the challenges posed by Trump by building closer trade ties with other countries, particularly in Asia, Brzeski said this was easier said than done.

"If things get tougher under Trump, companies will look at external destinations but no other countries right now have the same size and purchasing power as the US," the economist said. "It will not be that easy."

The US only became Germany's most important trading partner in 2015, snatching the title from France which had held it from 1975 until 2014.

TRADE WARS
Trump plots 'tough policies' to return jobs from China
Washington (AFP) Feb 23, 2017
President Donald Trump huddled with US manufacturing moguls at the White House Thursday, discussing "tough policies" to bring "our jobs back" from places like China and Mexico. Seeking to codify protectionist rhetoric that helped propel him to an historic election win, Trump renewed his promise to overhaul the way America does business with the world. Between banter with CEOs from two do ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment on this article using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Haitians' ire over carnival spending amid hurricane's ruins

Carnival helps Rio put crime, recession on back burner

Canada conservationist warns of 'cyber poaching

In Mosul, a long-term battle to repair Iraq's heritage

TRADE WARS
New polymer additive could revolutionize plastics recycling

Researchers use laser-generated bubbles to create 3-D images in liquid

New X-ray glasses concentrate, strengthen laser beams

NASA team develops modular avionics systems for small missions

TRADE WARS
New urgency in fight to restore Florida Everglades

Saab to provide support for Swedish navy underwater systems

Warming temperatures could trigger starvation, extinctions in deep oceans

Plan to save Great Barrier Reef set back decades: experts

TRADE WARS
Air pollution may have masked mid-20th Century sea ice loss

International team reports ocean acidification spreading rapidly in Arctic Ocean

Arctic sea ice decline influences European weather

Simple rule predicts when an ice age ends

TRADE WARS
'Our daily bread' has hidden climate costs

Brexit sows seeds of doubt for British farmers

Researchers unravel powerful tool in maize breeding

Widely accepted vision for agriculture may be inaccurate, misleading

TRADE WARS
Water slowly restored in Chile capital after deadly floods

Study targets warm water rings that fuel hurricane intensification

Guatemala's Volcano of Fire erupts

An insight into a physical phenomenon that leads to earthquakes

TRADE WARS
France sends backup to Niger after 16 troops killed

UN airstrikes in C.Africa target 'heavily armed' militia

16 killed in three days of DR Congo clashes

I.Coast hosting bid to save its last chimpanzees

TRADE WARS
Tiny fibers open new windows into the brain

Newfound primate teeth take a big bite out of the evolutionary tree of life

Neanderthal DNA contributes to human gene expression

Study shows ancient humans arrived in South America in multiple waves









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.