Peter Navarro, who heads the White House's new National Trade Council, called for bilateral talks to reduce the US trade deficit with Germany on Monday. The US recorded a $502-billion trade deficit last year, meaning it imported more than it exported. In 2015, Germany exported goods to the value of $125.4 billion to the US while importing $50.1 billion of US products. Other members of the Trump administration have clearly signalled that they would rather negotiate with individual European countries on trade than with the EU as a whole. Germany’s Finance Ministry expects the trade surplus to come up in conversation, according to Spiegel.

Source: The Local March 07, 2017 14:37 UTC