China overtakes U.S., France as Germany’s biggest trade partner
German imports from and exports to China rose to €170 billion last year, Federal Statistics Office figures reviewed by Reuters showed.
The development is likely to be welcomed by the German government, which has made it a goal to safeguard global free trade after U.S. 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 European Union should refocus its economic policy toward Asia, should the Trump administration pursue protectionism.
“Given the protectionist plans of the new U.S. president one would expect that the trade ties between Germany and China will be further strengthened,” Germany’s BGA trade association said in response to the shift.
Neighouring France remained the second-most important business partner with a combined trade volume of €167 billion. The United States came in third with €165 billion. ■