Accounting for a share of 8.7% of total German goods
exports, the US were Germany’s key export market last
year (followed by France, China and the Netherlands).
As regards total trade volumes, i.e. Exports plus imports, the
US took third place of the key trading partners (behind
China and the Netherlands, but ahead of France).
From the perspective of the current US Administration, US
trade deficits (albeit not only) with Germany are also a sign
of allegedly unfair trade practices. This view can hardly be
corroborated. Import tariffs on industrial products, in
particular, are almost on a par in the US and the EU, within
the lower single-digit range. Non-tariff trade barriers
indeed play a role, though a sober analysis does not really
reveal any imbalances.
Trade in agricultural products,
however, is more strictly regulated than trade in industrial