The German Chancellor recalled that the EU's trade deficit with China represented more than 300 billion euros.
The Chancellor recalled that the EU's trade deficit with China represented more than 300 billion euros.
Germany, France and the entire European Union have now reached the point where they are ready to defend their interests, and that is what we are doing, the Chancellor said, while assuring that the EU is not looking for a trade conflict.
Germany is home to global industrial giants in the automotive, chemical and electronics sectors. The country has long boasted a massive trade surplus with the rest of the world, notably thanks to booming sales to China.
German Chancellor Friedrich Merz reaffirmed on Wednesday that the European Union would defend itself against what he called unfair Chinese trade practices that could threaten German industry.
Not a single European Union member state still has a trade surplus with China, the leader said.
This deficit well exceeds 300 billion euros per year, which represents almost a billion every day, he added.
Germany - home to global industrial giants in automobiles, chemicals and electronics - has long boasted a massive trade surplus with the rest of the world, thanks in part to booming sales to China.
That’s almost a billion every day,” he added.
“This deficit well exceeds 300 billion euros per year.