BERLIN: Germany’s DIHK Chambers of Commerce on Wednesday raised its forecast for exports to the United States for 2017 despite widespread concerns about protectionism since Donald Trump became president.
“We think export growth of up to 10 percent is possible in 2017,” DIHK foreign trade economist Volker Treier told press.
At the start of the year it had predicted 5 percent growth.
Trump has repeatedly criticised Germany’s large trade surplus and on Tuesday he tweeted that Germany’s trade and spending policies were “very bad”.
German exports to the U.S. surpassed imports from the U.S. by just under 14 billion euros in the first quarter – the biggest trade surplus Germany has with any country.
German shipments to the U.S. have surged since Trump took office in January, with exports to the U.S. up by 8.2 percent to 29.1 billion euros in the first quarter after they fell by 6 percent last year.
