Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Merkel defends German trade surplus, says trying to boost domestic demand

Published 03/17/2018, 06:53 AM
Updated 03/17/2018, 07:00 AM
© Reuters. German Chancellor Angela Merkel gives a joint press conference with France's President at the Eylsee presidential Palace in Paris

BERLIN (Reuters) - Germany is trying to stimulate domestic demand to offset strong exports, but wants a keen appetite for German products to continue, Chancellor Angela Merkel said in a video podcast on Saturday.

Merkel said Germany's trade surpluses, attacked by U.S. President Donald Trump, were narrowing due to rising domestic demand, and the government would continue to try to support that trend.

But she noted certain factors that affect trade balances, such as oil prices and currency fluctuations, were outside Germany's control.

"And of course, the trade surpluses show that our products are in demand. And we naturally want that to remain so in the future," she said.

German Economy Minister Peter Altmaier will visit Washington on Sunday to press for a waiver from U.S. steel and aluminum tariffs as part of a broad push by the European Union to reverse the U.S. trade sanctions.

© Reuters. German Chancellor Angela Merkel gives a joint press conference with France's President at the Eylsee presidential Palace in Paris

Merkel said on Friday the planned U.S. tariffs violated the principles of the World Trade Organization and the dispute should be resolved via talks if possible.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.