Merkel risks WRATH of Trump as Germany’s trade surplus with US widens AGAIN

According to the Federal Statistical Office (FSO), Germany exported £44.6billion (€50.5billion) more goods into the US than it imported from there – up from £43.1billion (€48.9billion) in 2016.

It is the latest evidence of a growing gap between what Germany has been exporting to the US than it imports there.

In 2000, the export surplus was reported to be £12.9billion (€14.6billion) and since the turn of the millennium the surplus peaked in 2015 at £47.2billion (€53.5billion).

Last year, the US was largest buyer of German goods with exports from the EU powerhouse totalling £98.4billion (€111.5billion).

Meanwhile, Germany’s total trade with China rose to £164.75billion (€186.6billion) last year, from £150.27billion (€170.2 billion) in 2016.

The US is now reportedly considering imposing high tariffs on steel and aluminium imports and introducing quantitative restrictions to protect the domestic economy, while the EU is threatening punitive tariffs on bourbon whiskey and Harley Davidson motorcycles.

The EU believes that world trade should be free and fair, with a spokesman for European Commission President Jean-Claude Juncker, saying: “We are ready to act swiftly and appropriately if our exports are affected by US trade restrictions.”

Mr Trump has long been highly critical of surpluses of other states in trade with the US. 

In a tweet last May, the US President said: “We have a MASSIVE trade deficit with Germany, plus they pay FAR LESS than they should on NATO & military. Very bad for US. This will change.”

In a recent interview with TV presenter Piers Morgan, Mr Trump added: “I’ve had a lot of problems with the European Union, and it may morph into something very big from a trade standpoint.

“It’s a very unfair situation. We cannot get our product in. It’s very, very tough, and yet they send their product to us – no taxes, very little taxes.”

The latest figures were revealed after the International Monetary Fund (IMF) warned last month that German Chancellor Angela Merkel is putting the country on course for a US backlash over Germany’s staggering trade surplus and “rampant protectionism”.

According to additional the preliminary figures from the FSO, China maintained its position as Germany’s most important trade partner, after passing the US in 2016 to become Germany’s largest partner.

The Netherlands were second with goods traded valued at £156.4billion (€177.3billion), followed by the US with £152.3billion (€172.6billion).

Exports to the UK fell from £75.8billion (€85.9billion) in 2016 to £74.5billion (€84.4billion) in 2017 amid growing Brexit concerns in Europe.