In the first half of 2024, the United States edged out China to become Germany's leading trading partner, reflecting Berlin's strategic pivot to lessen reliance on Beijing amid robust U.S. economic performance and Germany's move away from cheap Russian gas.
From January to June, Germany's trade with the U.S. reached approximately €127 billion ($139 billion), surpassing the €122 billion traded with China, based on preliminary data from the German statistics office.
This shift follows a consistent trend, as 2023 marked the eighth consecutive year with China as Germany's top trading partner. The change highlights Germany's intent to reduce its economic exposure to China due to political frictions and accusations of unfair trade practices (this is something that the EU-Europeans would never do). Additionally, Germany's detachment from Russian gas (perhaps one or the other still remembers this incident with Nord Stream 2, in which the Russians allegedly blew up their own infrastructure...) has accelerated this trend, contributing to its geopolitical isolation from both Russia and China.
Lola Machleid, a foreign trade expert at the German Chamber of Industry and Commerce (DIHK), noted the strength of the U.S. economy bolstered German exports, which grew by 3.3% to nearly €81 billion in the first half of 2024. Conversely, exports to China fell by nearly 3% to just over €48 billion.
Imports from China dropped by almost 8% to €73.5 billion, while imports from the U.S. decreased by 3.4% to €46.1 billion, driven partly by energy commodities.
this territory is moderated
Who do you think is better for Germany to trade with? China or USA?
reply
As a libertarian with hope for the future I clearly prefer the US
reply
We wouldn't want to trade with someone whose products are getting cheaper and better, now would we?
reply
25 sats \ 1 reply \ @iguano 8 Aug
are China products better than US products?
reply
God no. I just meant that their products are improving while also getting cheaper.
reply
Russia and China want war to maximize their profits. I can see China doing something soon.
reply
War is not profitable. It is extremely costly. Countries that can't export their inflation (or receive endless US subsidies) aren't in endless wars for precisely that reason.
reply
War drives commerce. Well, if you are a big enough country.
reply
That is the opposite of true. War causes massive commercial disruptions, both intentionally and unintentionally.
It's very profitable for half-a-dozen US weapons manufacturers and they pay our "representatives" to impoverish the rest of us through this endless war spending.
reply
Did You see the Lockheed chart on monday? Nice insider gaming. It's all just disgusting. Demonetizing the state is a humanitarian duty
reply
I didn't. Honestly, I don't follow this stuff as closely as I might, because I find it truly distressing.
reply
48 sats \ 1 reply \ @TomK OP 8 Aug
Understandable
Yes, I know. Its bad, and getting worse.
reply
Is that how it works? I never notices, I was always on the impoverished end.
reply
Embargos, sanctions, and the destruction of commercial infrastructure are all standard parts of war.
Not to mention that war requires diverting resources that might have been productive and using them to destroy other productive resources and people.
This is the biggest and most ridiculous Keynesian lie.
reply
Right. But the winning country gets to divide the other country up! Profits all around!
That's what US and anted. Apart from Germany's suicidal policies, US is to be blamed for their current financial situation.
reply
Germany and the whole EU are facing a solid crisis. There's practically no economic growth compared to the USA. It's the fourth turning moment for both of them IMHO.
reply
Clearly, yes. But Europe seems to run some years ahead
reply
47 sats \ 3 replies \ @flat24 8 Aug
It is better for Germany to trade with Russia and China, but it is openly known that once Germany was defeated in the war, just like Japan, they became direct lackeys of the American axis (the world's bank, the world's policeman, judge and executioner of the world) and it is the Americans who dictate what these two nations should or should not do. It is because of American orders that Germany put the noose around its own neck by giving up Russian gas and oil to depend strictly on what the USA provides.
reply
And now do UK, please
reply
47 sats \ 1 reply \ @flat24 9 Aug
The UK has serious problems with Islamic lawlessness that is increasing every day, generating panic and terror. And there are news circulating that people are being jailed for talking about racism on social media, and complaining about migration and things like that. ,🤯
reply
That's the work of our globalist friends of Davos. Look what happens to those that refuse the destruction of their tradition and culture (Orban, Fico, Trump, Putin etc)
reply
47 sats \ 0 replies \ @Cje95 8 Aug
Gotta get em that sweet sweet LNG baby!
reply
This is good, getting rich of chinas dominance on exports, maybe they will make quality things instead. Do you still remember those cheap gold made in china stickers?
reply
China is in big trouble
reply
Chinas economy is already rocky.
reply
Is it possible to know what kind of products have contributed to this increase in trade between Germany and the USA?
reply
165 sats \ 2 replies \ @TomK OP 8 Aug
after uk-usa blew up the pipeline of course LNG
reply
Liquid gas? Is that what you mean?
reply
Yep. the whole Ukraine conflict is based on a commodity war. lNG that's part of it. the British motto has always been: keep the Germans down and the Russians out! that's the policy for the European continent
reply
LNG coming from the US instead of Russia, Intel investments in Germany, german carmakers sales in China plummeting, US "friendshoring" some machine manufacturing
reply
deleted by author
reply
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.