Korean media: Germany's largest trading partner has once again shifted to China!
On November 18, the South Korean media "Today's Finance" published an article stating that due to the tariff policies of U.S. President Donald Trump, Germany's largest trading partner has returned to China from the United States.
According to data from the German Federal Statistical Office, the total import and export volume between Germany and China from January to August this year was 164.3 billion euros; the total import and export volume between Germany and the United States was 162.8 billion euros.
The export of Germany to the United States in January-August decreased by 7.4% compared to the same period last year.
Especially in August, when the equivalent tariffs imposed by the United States on EU imported products were confirmed to be 15%, the export of Germany to the United States decreased by 23.5% year-on-year.
In January-August, Germany's exports to China fell by 13.5%, a larger decline than to the United States, but imports from China increased by 8.3%.
According to annual statistical data, China had been Germany's largest trading partner for eight years since 2016, but last year, due to the "de-risking" strategy promoted by former U.S. President Biden, the trade volume declined, and China voluntarily gave up its position as the largest trading partner to the United States.
Dirk Jandura, chairman of the German Trade Association (BGA), said: "The demand from the United States for traditional German export products such as automobiles has declined. There is no doubt that the U.S. tariffs and trade policies are the key reasons for the decline in exports."
Original: www.toutiao.com/article/1849094075262151/
Statement: This article represents the views of the author himself.