German President Steinmeier urges China's Xi to reduce trade surplus
Beijing — German President Frank-Walter Steinmeier has urged Chinese leader Xi Jinping to seek a reduction in the high foreign trade deficit with his country during a meeting on Friday, the last day of his four-day state visit to China. "We want close trade and economic relations with one another. And in such a way that they bring sustainable benefits to both sides," Steinmeier said during a…
German President Frank-Walter Steinmeier urged Chinese leader Xi Jinping to reduce the significant trade surplus between their two nations during a meeting on the final day of Steinmeier's four-day state visit to China. The two leaders emphasized the importance of maintaining strong trade and economic relations, with Steinmeier stating that both countries should benefit sustainably from their dynamic economic ties.
The trade deficit, which reached nearly €90 billion ($100 billion) last year, was a prominent topic of discussion. Steinmeier noted that given the high level of economic dynamism between Germany and China, it was only natural to periodically review the framework conditions. Earlier, Steinmeier expressed confidence in resolving any trade disagreements during a meeting with Chinese Prime Minister Li Qiang.
A recent agreement limiting hybrid car exports to the European Union demonstrated that even in challenging situations, solutions could be found. Steinmeier emphasized that both nations were aiming to maintain and strengthen their relationship.
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