Trump’s exit from Pacific trade deal opens door for Germany -Gabriel


Trump's exit from Pacific trade deal opens door for Germany -Gabriel
U.S. President Donald Trump speaks during the Inaugural Law Enforcement Officers and First Responders Reception in the Blue Room of the White House in Washington, U.S., January 22, 2017. REUTERS/Joshua Roberts

Germany would take advantage of any trade opportunities in Asia and South America left by a protectionist United States, Vice Chancellor Sigmar Gabriel said on Tuesday (January 24), after U.S. President Donald Trump withdrew from the Trans-Pacific Partnership (TPP).

“We don’t have any interest in a trade conflict, on the contrary we want fair partners. We must have exactly the same from China – to use the chances and doors which are newly opened.” Gabriel said at an energy industry gathering.

Trump signed an executive order formally withdrawing from the 12-nation TPP on Monday (January 23), following through on a promise made during his election campaign. He called the move a “great thing for the American worker”.

Gabriel – Economy Minister and leader of the centre-left Social Democrats (SPD), who is expected to run against Chancellor Angela Merkel in September’s election – said German industry should remain confident in the face of Trump’s moves.

“When one door closes, and he’s closing doors, another opens somewhere else. I am sure about this,” he said, adding that German companies should also begin looking for new partners.

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