Germany should seize opportunities if U.S. drops trade deals: minister

Berlin should be ready to seize new opportunities in Asia as Washington steps away from global trade deals, Germany’s new foreign minister said on Friday, and Chancellor Angela Merkel said Germany and the European Union would seek new trade deals.

Merkel told a meeting of her Christian Democrats (CDU) that Germany and the European Union would continue to work towards reaching new trade agreements with other countries because “we live from interdependence”.

“We’re banking on free, fair trade around the world,” Merkel said at a CDU event in the northeastern city of Greifswald. Debates about the EU-Canada Comprehensive Economic and Trade Agreement (CETA) showed such deals brought more opportunities than risks, she said.

With concern growing over U.S. President Donald Trump’s protectionist stance on trade, Merkel said it was clear that every country would take a tough stance in negotiations but all interests must be taken into account if countries want to engage in reciprocal trade.

Foreign Minister Sigmar Gabriel outlined his priorities in a first speech to diplomats since taking office from Frank-Walter Steinmeier, saying he looked forward to meeting U.S. Secretary of State-designate Rex Tillerson as soon as possible. Read more…