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China’s Trade Deal With U.S. Leaves Germany Squeezed in Mid

AUTHOR:CHANTA    TIME:2018-05-24     SOURCE:CHANTAWOOD
ABSTRACT:Chancellor Angela Merkel heads to China with another U.S.-prompted headache threatening to hurt German interests. China’s pledge to buy more American goods as part of a deal to avert a trade war with the U.S. puts Germany on the spot. As...

Chancellor Angela Merkel heads to China with another U.S.-prompted headache threatening to hurt German interests.

China’s pledge to buy more American goods as part of a deal to avert a trade war with the U.S. puts Germany on the spot. As China’s biggest European trading partner, with a total volume of some $179 billion last year, Germany is first in line to suffer the impact of any reduction in business.

“China will buy more and more products from the U.S. that we might have otherwise bought from Europe or other partners,” said Wang Yiwei, director of Renmin University’s Institute of International Affairs in Beijing, and a former Chinese diplomat in Brussels. “This will certainly have a spillover effect.”

The upshot is a complex balancing act for the chancellor, as she champions open trade and the multilateral system, knowing that China is failing to allow reciprocal access to its markets while targeting strategic interests across Europe. On the other axis is the U.S. under Donald Trump, whose protectionist moves are straining the trans-Atlantic bond and preventing a common front against China’s trade transgressions

With a large group of corporate leaders in tow, Merkel plans to drive home Germany’s demand for China to ease barriers on foreign investment when she meets President Xi Jinping in Beijing on Thursday. Fresh from a visit with Russia’s Vladimir Putin, she’s also expected to seek China’s backing for upholding the Iran nuclear accord.


KEYWORDS:China,’,Trade,Deal,With,U.S.,L

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