Posted on 06/12/2018 10:29:23 PM PDT by Olog-hai
German Chancellor Angela Merkel on Tuesday struck back at US President Donald Trump’s repeated complaints over the US trade deficit.
Merkel pointed out the United States actually runs a significant account surplus with Europe if one factors services into the equation.
She went on to say that the current accounting systems for global trade needed to be updated to also take services into account.
“Trade surpluses are calculated in a relatively old-fashioned way nowadays,” she told an audience of businessmen at the Christian Democratic Union’s Economic Council Conference in Berlin. “If services are included in the trade balance, then the US runs a big surplus with Europe. And the share of services will only grow.” […]
According to the Office of the United States Trade Representative, the US goods and services trade deficit with the EU was $92 billion (€78 billion) in 2016. The US goods trade deficit was $137 billion, while it ran a services trade surplus of $55 billion. …
(Excerpt) Read more at dw.com ...
She’s just another MRE (Morally Reprehensible Elitist). Standard issue professional politician meaning pathological liar and parasite.
What kind of ‘services’ do we provide to the EU?
What kind of ‘services’ do we provide to the EU?
I guess these are the services she is talking about:
“The top services were in professional and management services, intellectual property, travel and education.”
If this is not part of the standard way to calculate trade, I don’t see the point in starting now.
Services include things like airline flights in the Germany/US market.
Figures do not lie. LIARS DO. Merkel is the liar as we had a 65 billion deficit with her and her kraut pals in 2016.
Sorry Angela. Payments to the Clintons don’t count.
Germany’s economy keeps growing
http://www.dw.com/en/germanys-economy-keeps-growing/av-44187219
She’s out of her old COMMIE mind!
If one talks of the services industry, it includes: advertising, accounting, cleaning, funerals, education, entertainment, fashion, healthcare, nursing, insurance, IT services, financial and loan services, media, investigative services, law, online services, sex industry, sports business services, travel, tourism, visual arts, wedding industry, language training industry, etc.
The problem she has in bringing this up...is that there are no tariffs in this type of industry...there are visa-control numbers. Virtually every nation that I know of (especially Europe)...requires you to have a work-visa and there are various rules to this.
If you were to open up a MAJOR bucket of worms, just go and include this industry into the chatter, and ask how ‘fairness’ would be measured and monitored.
Trump’s comeback on this would probably be: ...so the German chancellor wants to German hookers, American actors, and Mexican cleaning ladies into the trade talks?
I wonder if she is including companies like Google, Apple and Amazon in the services category?
Merkel is providing “Involuntary Brothel Services” for all those “Thirsty” Middle eastern and African men in Germany...
Formulated opposition is looking more and more like treason these days, they are ceaseless and have zero regard for the damage they may do to negotiations.
Exactly. Merkel must think we're as dumbeddown as the Germans who keep electing her.
If assclowns like Merkle and Trudeau at least said ‘thanks’ once in a while for how much we support them in their advantageous trade agreements or delinquent support to NATO, that’d be one thing... but they’re total ingrates.
I'm pretty sure American taxpayers subsidizing the German military/defenses would also fall under even Merkel's definition of "services".
It’s still an 82 billion deficit.
Google, Apple, and Amazon fall into different categories. Apple is mostly selling products, although this effort to get into the TV industry might fall into services. Google and Facebook are pure services. Amazon? They sell products but they don’t manufacture them....so they are mostly service industry.
But if you include them...then the question comes up...aren’t you taxing them in Europe already? And theses entitles aren’t typically bringing their profit back into the US...holding it as assets overseas? How exactly would you measure this?
Virtually every US service I know about in Europe...ends having to be registered and forced into paying taxes, so there’s limited money coming back into the US.
How many Chevys and Fords are sold in Germany, Angela?
Right. STFU
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