Economy The U.S. is now Germany’s biggest trading partner — taking over from China

[SandisLL]

For Lithuania AFAIK 100% LNG suppliers are U.S directly or indirectly owned companies and deals had been signed before war in Ukraine cos they does knows what stuff Russia is.
They also does have very good refinery capable to process even crude oil with high sulfur content etc stuff..for example from Venezuela..easily..
While for refinery AFAIK unlike with LNG long term contracts aren't signed.
Currently suppliers are Norway, U.S, Saudites and Emirates while crude oil transport done by U.S stuff etc mainly ...and insurance for this transport done by U.K based company...
Yup, they does knows what stuff is crude oil supplies cut off by Gorbachev and still they managed to do what they want to do.
Ofc natural gas supplies Gorbachev wasn't able to cut off because Kaliningrad oblastj had been supplied by using pipelines in Latvia and Lithuania, also Russia needs their natural gas storage capacity for heating season balance. Natural gas storage is in Latvia and they had get in mad mode when Lavrov demanded to pay for natural gas supplies in roubles... by pressing to change signed contract.They didn't had folded and now mainly only just transit is done for Kaliningrad oblastj.
Therefore renewables bubble and so on.

 

[KnightTemplar]

Sophie Kiderlin
@SKIDERLIN

• After years of China being Germany’s main trading partner, the U.S. looks like it’s quietly taking that top spot as the year progresses.
• Combined exports and imports between Germany and the U.S. totaled 63 billion euros ($68 billion) between January and March of 2024, while trade with China came to just below 60 billion euros.
• Germany has adapted its China strategy, urging companies to “de-risk” from the country last year.

After years of China being Germany’s main trading partner, the U.S. looks like it’s quietly taking that top spot as the year progresses.

Combined exports and imports between Germany and the U.S. totaled 63 billion euros ($68 billion) between January and March of 2024. Meanwhile, trade between Germany and China came to just below 60 billion euros, according to CNBC calculations. Reuters first reported the change on Thursday.

Several factors played a role in the move, Carsten Brzeski, global head of macro research at ING Research, told CNBC.

“This shift is the result of several factors: strong growth in the U.S. has boosted demand for German products. […] At the same time, decoupling from China, weaker domestic demand in China and China being able to produce goods it previously imported from Germany (mainly cars) reduced German exports to China,” he said.

China has been Germany’s biggest trading partner for years, but the gap between China and the U.S. narrowed in recent years. The U.S. has also long been a bigger market for German exports than China, Holger Schmieding, chief economist at Berenberg Bank, told CNBC.

While the U.S. share of German exports had been growing in recent years, China’s has been decreasing, he noted. “The Chinese economy is stuttering and German companies are facing stiffer competition from subsidised Chinese firms,” Schmieding said.

The key difference is that now the U.S. is also becoming more important when it comes to imports, he pointed out.

Germany has been pursuing a new China strategy, urging companies to “de-risk” from China last year. China is to remain a partner for Germany, the country’s government has stressed, and there should not be a “de-coupling” — but “systemic rivalry” has increasingly characterized the relationship between the two.

Tensions have also increased between the European Union and China, with the two launching investigations into each other’s trade practices and threatening to slap tariffs on imports.

Last month, a survey by German economic institute Ifo found that the amount of companies who say they are dependent on China fell from 46% in February of 2022 to 37% in February of 2024. This was linked to fewer companies relying on inputs from Chinese manufacturers, the report said.

“The fact that the U.S. has become Germany’s largest trading partner indeed illustrates changing trade patterns and the gradual decoupling from China,” Brzeski said.

https://www.cnbc.com/2024/05/10/the-us-is-now-germanys-biggest-trading-partner-ahead-of-china.html

Oktoberfest is fucking awesome.

 

[LeonardoBjj]

I bought a German made vacuum and I have been very pleased with its performance.

- You mean a clieaning one or this type of vacuum?

 

[LeonardoBjj]

Oktoberfest is fucking awesome.

- We have here also.

 

[LeonardoBjj]

Relatively much but this isn't all. Equipment for factories, software licences, ads services, other kind of IT stuff, LNG and....weapons ofc.
A lot of long term deals had been inked, so this is only beginning.
BTW Poland, Chech Republic, Baltic countries, Finland and Sweden, Denmark and Norway, Netherlands and Belgium had inked a lot of deals for to be delivered 2025 th, 2026 th, 2027 th....

- Dont forget superior cars

 

[KnightTemplar]

- We have here also.

There's a touring Oktoberfest that visits Edinburgh every year and sets up the tents in Princes Street Gardens. The beer they sell is brewed exclusively for them.

 

[LeonardoBjj]

There's a touring Oktoberfest that visits Edinburgh every year and sets up the tents in Princes Street Gardens. The beer they sell is brewed exclusively for them.

- I dont drink, but the ladies here drink and think i am taller and better looking after that!

 

[Whippy McGee]

I had a German girlfriend for a year and change. The Germans can definitely send more of them this way. Also, kudos to @LeonardoBjj for the representation of German women.