Germany`s 2016 trade surplus sets record, may fuel US tensions

by Dramelin 2:00 AM 0 comments

Germany`s trade surplus for 2016 rose to 252.9 billion euros ($270.05 billion), surpassing the previous high of 244.3 billion euros in 2015, the Federal Statistics Office said. Germany`s trade surplus climbed to a record high in 2016, official data showed on Thursday, days after U.S. President Donald Trump`s top trade adviser accused Berlin of exploiting a "grossly undervalued" euro to its advantage. "The record surplus will continue to fuel the conflict with the USA and within the EU," said Marcel Fratzscher, head of the DIW economic institute, an advocate of stronger investment in Germany. "European neighbors would benefit from stronger investment in Germany," he said. "Last week, U.S. President Donald Trump`s top trade adviser said Germany was using a "grossly undervalued" euro to gain advantage over the United States and its European partners.