Latest news with #MariaMartinez
Yahoo
08-08-2025
- Business
- Yahoo
China narrows gap with US as Germany's biggest trading partner
By Rene Wagner and Maria Martinez BERLIN (Reuters) -China came close to overtaking the United States as Germany's largest trading partner in the first half of 2025, preliminary data from the German statistics office showed, as German exports to the U.S. declined amid higher tariffs. German imports and exports with the U.S. totalled about 125 billion euros ($145 billion) from January to June, while trade with China reached 122.8 billion euros, according to Reuters calculations. "Although the U.S. was able to defend its position as Germany's most important trading partner, the lead over German trade with China is razor-thin," said Vincent Stamer, economist at Commerzbank. The U.S. had overtaken China as Germany's top trading partner in 2024, ending an eight-year streak for China. The shift came as Germany sought to reduce its reliance on China, with Berlin citing political differences and accusing Beijing of unfair practices. Trade dynamics shifted again, however, in 2025 with Donald Trump's return to the White House and renewed tariffs. The EU's trade deal with the U.S. in July set tariffs at 15% for most products. 'As the year progresses, losses in German exports to the U.S. are likely to continue and even intensify,' said Juergen Matthes, head of international economic policy at the Cologne Institute for Economic Research. German exports to the U.S. fell 3.9% to 77.6 billion euros in the first half compared to the same period last year. Commerzbank expects new U.S. tariffs to slow Germany's exports to the U.S. by 20% to 25% over the next two years. 'As a result, China is likely to regain the top spot among Germany's trading partners over the course of the year,' Stamer said. CHINESE IMPORTS SURGE Imports from China surged 10.7% year-on-year in the first half, reaching 81.4 billion euros. 'Apparently, German companies and consumers find it difficult to replace Chinese goods,' Stamer said. The rise may indicate China has begun redirecting trade from the U.S. to Europe, flooding the German and European market with cheaper goods, said Carsten Brzeski, global head of macro at ING. A significant undervaluation of the yuan against the euro is also making Chinese imports cheaper, said Cologne Institute's Matthes. German exports to China fell 14.2% to 41.4 billion euros, with exporters struggling amid increased competition from Chinese manufacturers. The sharp decline in exports to China, combined with surging imports, has led to a record trade deficit of 40 billion euros, second only to 2022. 'All these developments are damaging the German economy and further exacerbating the industrial crisis,' Matthes said. ($1 = 0.8600 euros)
Yahoo
08-08-2025
- Business
- Yahoo
China narrows gap with US as Germany's biggest trading partner
By Rene Wagner and Maria Martinez BERLIN (Reuters) -China came close to overtaking the United States as Germany's largest trading partner in the first half of 2025, preliminary data from the German statistics office showed, as German exports to the U.S. declined amid higher tariffs. German imports and exports with the U.S. totalled about 125 billion euros ($145 billion) from January to June, while trade with China reached 122.8 billion euros, according to Reuters calculations. "Although the U.S. was able to defend its position as Germany's most important trading partner, the lead over German trade with China is razor-thin," said Vincent Stamer, economist at Commerzbank. The U.S. had overtaken China as Germany's top trading partner in 2024, ending an eight-year streak for China. The shift came as Germany sought to reduce its reliance on China, with Berlin citing political differences and accusing Beijing of unfair practices. Trade dynamics shifted again, however, in 2025 with Donald Trump's return to the White House and renewed tariffs. The EU's trade deal with the U.S. in July set tariffs at 15% for most products. 'As the year progresses, losses in German exports to the U.S. are likely to continue and even intensify,' said Juergen Matthes, head of international economic policy at the Cologne Institute for Economic Research. German exports to the U.S. fell 3.9% to 77.6 billion euros in the first half compared to the same period last year. Commerzbank expects new U.S. tariffs to slow Germany's exports to the U.S. by 20% to 25% over the next two years. 'As a result, China is likely to regain the top spot among Germany's trading partners over the course of the year,' Stamer said. CHINESE IMPORTS SURGE Imports from China surged 10.7% year-on-year in the first half, reaching 81.4 billion euros. 'Apparently, German companies and consumers find it difficult to replace Chinese goods,' Stamer said. The rise may indicate China has begun redirecting trade from the U.S. to Europe, flooding the German and European market with cheaper goods, said Carsten Brzeski, global head of macro at ING. A significant undervaluation of the yuan against the euro is also making Chinese imports cheaper, said Cologne Institute's Matthes. German exports to China fell 14.2% to 41.4 billion euros, with exporters struggling amid increased competition from Chinese manufacturers. The sharp decline in exports to China, combined with surging imports, has led to a record trade deficit of 40 billion euros, second only to 2022. 'All these developments are damaging the German economy and further exacerbating the industrial crisis,' Matthes said. ($1 = 0.8600 euros) Sign in to access your portfolio
Yahoo
08-08-2025
- Business
- Yahoo
China narrows gap with US as Germany's biggest trading partner
By Rene Wagner and Maria Martinez BERLIN (Reuters) -China came close to overtaking the United States as Germany's largest trading partner in the first half of 2025, preliminary data from the German statistics office showed, as German exports to the U.S. declined amid higher tariffs. German imports and exports with the U.S. totalled about 125 billion euros ($145 billion) from January to June, while trade with China reached 122.8 billion euros, according to Reuters calculations. "Although the U.S. was able to defend its position as Germany's most important trading partner, the lead over German trade with China is razor-thin," said Vincent Stamer, economist at Commerzbank. The U.S. had overtaken China as Germany's top trading partner in 2024, ending an eight-year streak for China. The shift came as Germany sought to reduce its reliance on China, with Berlin citing political differences and accusing Beijing of unfair practices. Trade dynamics shifted again, however, in 2025 with Donald Trump's return to the White House and renewed tariffs. The EU's trade deal with the U.S. in July set tariffs at 15% for most products. 'As the year progresses, losses in German exports to the U.S. are likely to continue and even intensify,' said Juergen Matthes, head of international economic policy at the Cologne Institute for Economic Research. German exports to the U.S. fell 3.9% to 77.6 billion euros in the first half compared to the same period last year. Commerzbank expects new U.S. tariffs to slow Germany's exports to the U.S. by 20% to 25% over the next two years. 'As a result, China is likely to regain the top spot among Germany's trading partners over the course of the year,' Stamer said. CHINESE IMPORTS SURGE Imports from China surged 10.7% year-on-year in the first half, reaching 81.4 billion euros. 'Apparently, German companies and consumers find it difficult to replace Chinese goods,' Stamer said. The rise may indicate China has begun redirecting trade from the U.S. to Europe, flooding the German and European market with cheaper goods, said Carsten Brzeski, global head of macro at ING. A significant undervaluation of the yuan against the euro is also making Chinese imports cheaper, said Cologne Institute's Matthes. German exports to China fell 14.2% to 41.4 billion euros, with exporters struggling amid increased competition from Chinese manufacturers. The sharp decline in exports to China, combined with surging imports, has led to a record trade deficit of 40 billion euros, second only to 2022. 'All these developments are damaging the German economy and further exacerbating the industrial crisis,' Matthes said. ($1 = 0.8600 euros) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
30-07-2025
- Business
- Yahoo
German economy shrank by 0.1% in second quarter
By Maria Martinez BERLIN (Reuters) -Germany's economy contracted by 0.1% in the second quarter, data showed on Wednesday, as demand from the United States slowed following months of strong purchases in anticipation of U.S. tariffs. The contraction was in line with forecasts, marking a reversal from the 0.4% growth recorded in the first quarter, when U.S. importers bought more goods earlier than usual because they expected tariffs to go up. Investment in Germany fell in the second quarter, while consumption and government spending rose compared to the previous three months period, the statistics office said. The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods, half of what was originally threatened. The agreement helped avoid a bigger trade war between the two allies, who together make up almost a third of global trade. The U.S. was Germany's biggest trading partner in 2024 with two-way goods trade totalling 253 billion euros ($278 billion). Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al Etihad
14-07-2025
- Business
- Al Etihad
Empowering youth bedrock for sustainable giving in frontline: Frontline Heroes Office
By Maria Martinez BERLIN (Reuters) -German exporters have lost significant ground in global markets since 2021 due mainly to a broad-based deterioration in the country's competitiveness, the Bundesbank said on Monday. According to the Bundesbank's monthly report, more than three-quarters of Germany's export market share losses between 2021 and 2023 resulted from worsening supply-side conditions that left domestic exporters less competitive internationally. The report found that the decline was widespread across sectors and comparatively severe by international standards, signalling deep-rooted structural challenges for Europe's largest economy. Industries such as mechanical engineering, electrical equipment and energy-intensive sectors like chemicals were among the hardest hit, according to the report. The study also pointed to the impact of rising energy prices and persistent supply chain disruptions, which weighed heavily on German exporters during the 2021-to-2023 period covered by the report. The report called for urgent reforms to improve Germany's business climate, including measures to boost incentives to work, reduce barriers for skilled migrants, cut red tape and enhance tax breaks for private investment. The findings come after the German government unveiled a series of measures aimed at boosting investment and innovation, but analysts warn that more comprehensive reforms may be necessary to restore the country's competitive edge on the world stage. (Reporting by Maria Martinez and Klaus Lauer, editing by Rachel More)
