US Overrides China as Germany’s Leading Trade Partner in Q1, Says Reuters

According to recent data analyzed by Reuters, the United States has surpassed China as Germany’s primary trading partner during the first quarter of this year. The value of Germany’s exports and imports with the US totaled $68 billion, whereas the figure for China was approximately $60 billion. In 2023, China remained Germany’s top trading partner for eight consecutive years, but only narrowly beat out the US with a difference of a few hundred million euros. This shift can be attributed to the strong US economy and declining exports and imports between Germany and China. Furthermore, structural factors such as China’s increasing production of complex goods and local manufacturing by German businesses are playing a role. As Germany aims to decrease its reliance on China owing to political disagreements and accusations of unfair practices, the country has yet to announce specific measures to achieve this goal. Nonetheless, some experts believe that this trend may change if the upcoming US presidential election results in a shift towards protectionism. A spokesperson for the BGA trade association cautioned against drawing definitive conclusions since it remains uncertain how the outcome of the US election in November will affect trade relations.