Germany logged a record trade surplus with the United States last year, data showed Friday, news that could stoke tensions with US President Donald Trump as he threatens the EU with tariffs.
The United States also returned as the top trading partner for Europe’s biggest economy last year, it showed, overtaking China which had been in the number one spot since 2016.
Germany’s surplus with the world’s top economy came in at 71.4 billion euros ($74.1 billion), according to the figures from statistics agency Destatis, with the United States the destination for over 10 percent of all German exports.
Germany accounts for a hefty chunk of the European Union’s large trade surplus with the United States, which has been a source of anger for Trump.
The US president has threatened to hit the EU with tariffs soon, saying the bloc has treated Washington “very badly”.
Since taking office, Trump has unveiled fresh duties on Canada, Mexico and China, before reaching deals with the Canada and Mexico to halt the levies for a month.
Klaus-Juergen Gern, from the IfW Kiel economic institute, said that if Washington levied new tariffs on the EU, this could deal a heavy blow to the ailing German economy, which is already faced with a manufacturing slowdown and structural problems.
“It would be particularly problematic if tariffs were to be imposed only on some products from Europe… that play a particularly important role for German exports, such as cars, pharmaceuticals and medical technology,” he told AFP.
Total trade between the United States and Germany last year amounted to about 255 billion euros, above the 247 billion euros in trade between China and Germany, according to the data, which was collated by AFP.
Germany’s total exports worldwide amounted to nearly 1.6 billion euros in 2024, down one percent year-on-year, highlighting the challenges for the economy.
Imports also dropped by 2.8 percent. There was a positive trade balance for the year of 241.2 billion euros.