Last Update 22:28
Thursday, 21 June 2018

Merkel says that if services are included, US runs surplus with Europe

Reuters , Tuesday 12 Jun 2018
Angela Merkel
German Chancellor Angela Merkel (Photo: Reuters)
Share/Bookmark
Views: 777
Share/Bookmark
Views: 777

The United States runs a large account surplus with Europe if services are included in the total, German Chancellor Angela Merkel said on Tuesday, adding that existing international trade accounting systems needed to be updated.

President Donald Trump has repeatedly complained about large trade deficits the United States runs with many countries, in particular with manufacturing export powerhouse Germany, and has threatened Europe with punitive tariffs in response.

"Trade surpluses are calculated in a relatively old-fashioned way nowadays," she told an audience of businessmen in Berlin. "If services are included in the trade balance, then the US runs a big surplus with Europe. And the share of services will grow."

She was speaking a few days after disputes over trade led to the annual G7 summit of the world's largest developed economies ending in disarray. 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.