Us Germany Trade Agreement

The European Union is now considering whether the agreement complies with World Trade Organization (WTO) rules. The stability of the German economy and its thriving consumer base make it an attractive market for international trade. U.S. companies may want to be aware that there is fierce competition from German companies. Moreover, even if the rules make trade in Germany more difficult than other European countries, innovative quality products can be successful. Thailand: Negotiations for a free trade agreement with Thailand began in May 2013. They have been suspended since the fourth round of negotiations in April 2014, with the army taking control of the country shortly thereafter. It will only be possible for the EU to reach an agreement with an elected Thai government as part of a democratic process. The Philippines and Indonesia began negotiations for a free trade agreement with the EU in 2016. Negotiations based on the text began in 2017.

In May 2017, Angela Merkel met with US President Donald Trump. Trump`s claims that the United States had been exploited in trade deals in former governments had already weighed on relations with several EU countries and other U.S. allies. Without explicitly mentioning Trump, Merkel said after a NATO summit, “The days when we can rely entirely on others are gone” [66] This happened after Trump said, “The Germans are bad, very bad” and “Look at the millions of cars they sell in the United States.” We`re going to put an end to it. [67] “The EU, which accounts for about one-fifth of China`s imports of production goods, is particularly vulnerable to trade in this area,” Felbermayr said, as manufacturing is the top ten product categories that China imports from the EU. In 2016, the United States exported a total of $49.36 billion in goods to Germany. Compared to $49.95 billion in 2015, according to the U.S. Census Bureau.5 Despite the lessers, the U.S. Department of Commerce expects Germany to remain attractive for international trade for many industries, due to its central location in the EU, world-class infrastructure, high productivity and a highly skilled workforce.6 The top three categories of U.S. exports to Germany were cars in 2016; aircraft, engines and civilian parts; 7 The EU is accompanied by representatives from 13 non-EU countries. The first round of negotiations took place in Geneva in July 2014.

After 17 rounds of negotiations, the agreement is expected to be concluded by the end of 2016. For more information on the proposed agreement, please visit the European Commission`s website. As a member of the EU, Germany`s official currency is the euro. The US euro-dollar exchange rate (USD-EUR) was traded within two percentage points between August 2016 and August 2017, 8 According to World Bank data, inflation in Germany rose from 0.234% in 2015 to 0.483% in 2016.9 The impact of the German market exceeds the country. As the country hosts some of the world`s largest international trade shows, including DIE MEDICA, the Hanover Show, CeBIT, Automechanika and the ITB Tourism Show.10 The Green Goods Agreement (EGA), currently under negotiation, aims to deregulate the environmental goods market.