Merkel fires back at US over currency exploitation claim
Donald Trump’s top trade adviser, Peter Navarro, blames Germany for the demise of the US-EU trade pact
Stockholm — German Chancellor Angela Merkel on Tuesday rejected an accusation from US President Donald Trump’s top trade adviser that Germany is bolstering its exports with a "grossly undervalued" euro in a growing trans-Atlantic spat. Peter Navarro, the head of the new White House National Trade Council, told the Financial Times Germany’s advantageous trade position within the EU was one of the main reasons for the demise of a US-EU trade accord, known as the Trans-Atlantic Trade and Investment Partnership. As the administration seeks bilateral trade arrangements at the expense of multilateral deals, Navarro called TTIP "a multilateral deal with many countries under one ‘roof’," according to written responses to the newspaper’s questions.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.