Posted on 01/31/2017 7:26:01 PM PST by Olog-hai
A top economic adviser to US President Donald Trump bashed Germany for exploiting an undervalued euro to take advantage of its trading partners, the Financial Times reported Tuesday.
The public rebuke of a major trading partner is the latest example of the brash tactic that has become a feature of the new US administration, with Trump himself using public attacks and Twitter to criticize businesses and allies, including Mexico.
Peter Navarro, who advised Trump during the campaign and heads the White House’s new National Trade Council, said in an interview with the FT that Germany “continues to exploit other countries in the EU as well as the US with an ‘implicit Deutsche mark’ that is grossly undervalued.”
Navarro, a hardliner on trade and especially China’s rise, also said the planned trade deal between the United States and European Union — the Trans-Atlantic Trade and Investment Partnership — was dead. …
(Excerpt) Read more at thelocal.de ...
http://www.cnbc.com/2017/01/25/trumps-point-man-on-trade-we-envision-a-more-germany-style-economy.html
Obama said the same thing. The Deutschers bought Chrysler and it wound up in the scheisser.
They were never as hard on Obama over that, though. Typical.
Just hope that Navarro does not mean the social market economy by “Germany-style”, instead meaning more manufacturing and high tech.
Trump’s guys are FEARLESS.
On this, one might point out at the creation point of the Euro to the Dollar....it roughly 1.05 Euro to the Dollar. At that point, the Bush team took the Dollar to weak levels and it became a joke in Europe just how low that they’d allow the Dollar to go, in benefit US companies.
Within the last three years, things flipped...the Euro is resting near .90 to one Dollar.
For the Trump team to suggest some imbalance...they could be correct in some marginal way...expecting the decade-long Bush gimmick of a weak Dollar to carry the trade business as being “normal”. But lets face facts....between Greece faltering, serious issues in Spain and Italy, US banks still in bad trouble, and one-star Fed policy landscape...both the Dollar and Euro are in a weak position.
Fiat currencies will always be in a weak position. One of the biggest mistakes the US made (it was a deliberate move by the Wilsonians though) was the creation of the Federal Reserve.
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