The US combined deficit with Canada, Mexico, Japan, and Germany was $223 billion. Ifo said China slipped to third place last year with a surplus of $135 billion, less than half Germany’s.įrom that aspect, Germany is far worse than China, especially when one takes into account the size of the countries.īut what’s the goal? Balancing global trade or the US deficit? President Donald Trump has criticized Germany for doing too little to reduce its trade surplus with the United States, accusing Germany of “very bad” trade policies. Ifo said the German current account surplus - which measures the flow of goods, services and investments - was the world’s largest for the second year running in 2017 at $287 billion, followed by Japan with $203 billion. Reuters reports Germany trumps Asia with world’s largest current account surplus China runs a deficit with much of the world. However, China’s overall trade surplus is primarily with the US. The US has an annual trade deficit with China of $375 billion but only $65 billion with Germany.
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