China becomes Germany’s biggest trading partner for the first time
Berlin — China, for the first time, became Germany’s most important trading partner in 2016, overtaking the US, which fell back to third place behind France, data showed on Friday. German imports from and exports to China rose to €170bn ($180bn) last year, Federal Statistics Office figures showed. The development is likely to be welcomed by the German government, which has made it a goal to safeguard global free trade after US President Donald Trump threatened to impose tariffs on imports, and his top adviser on trade accused Germany of exploiting a weak euro to boost exports. German vice-chancellor Sigmar Gabriel has even suggested that the EU should refocus its economic policy towards Asia, should the Trump administration pursue protectionism. "Given the protectionist plans of the new US president, one would expect the trade ties between Germany and China to be further strengthened," Germany’s BGA trade association said in response to the shift. Neighbouring France remained the se...
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