Trumps exit from Pacific trade deal opens door for Germany -Gabriel

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.