There are numerous reasons for the trade imbalance with the US. One reason is the long history of specialisation and
Germany’s high competitiveness in the field of traditional capital goods. Another is the early exposure of German
companies to foreign growth markets, and thus, of course, the US. In the US, on the other hand, plants of US companies
focus more strongly on the large domestic market.
At the same time, many large US industrial companies are running
plants outside the US to supply local markets.