Trumps trade advis​​er says Germany uses euro to 'exploit' US and EU

[Eugene]

Source: The Guardian

Trump’s trade advis​​er says Germany uses euro to 'exploit' US and EU

Peter Navarro, head of new National Trade Council, claims currency
is ‘grossly undervalued’, sending it to eight-week high

Nick Fletcher
Tuesday 31 January 2017 18.16 GMT

Donald Trump’s top trade adviser has hit out at Germany and accused the country of gaining an unfair trade advantage from the “grossly undervalued” euro.

In a sign that the Trump administration is targeting currencies in its approach to trade deals, Peter Navarro, the head of the US president’s new National Trade Council, told the Financial Times (£) that the euro was like an “implicit Deutsche Mark”.

Germany “continues to exploit other countries in the EU as well as the US with an ‘implicit Deutsche Mark’ that is grossly undervalued”, he said.

Navarro, an academic and outspoken critic of China’s negative impact on the American economy, added that Germany was one of the main obstacles to a trade deal between the US and the EU.

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Read more: https://www.theguardian.com/business/2017/jan/31/trump-trade-adviser-germany-euro-us-eu-peter-navarro

[Wellstone ruled]

1. Talk about someone without a clue.

Sucker will get his collective butt handed to him. Germany has figured out how to deal with a changing world economically and socially,and this has Pissed off this new Administration. Notice how Merkal has told Trump to take a hike.