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Germany: US runs large account surplus with Europe if services are included

The United States runs a large account surplus with Europe if services are included in the total, Angela Merkel said


Reuters 12 Jun 2018, 07:06 PM Germany, United States
  • President Donald Trump has repeatedly complained about large trade deficits the United States runs with many countries. (Image Credit: Pixabay)

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total, German Chancellor Angela Merkel said on Tuesday, adding that existing international trade accounting systems are outdated.

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.

Merkel was addressing an audience of business people in Berlin a few days after disputes over trade led to the annual G7 summit of the world's largest developed economies ending in disarray.

 

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