In trade dispute, Germany says trade balance part of current account Excess

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© Reuters. FILE PHOTO: Germany's Chancellor Merkel talks with U.S. President Trump at family photo at the G7 Summit in Charlevoix, Quebec© Reuters. FILE PHOTO: Germany’s Chancellor Merkel talks with U.S. President Trump at family photo at the G7 Summit in Charlevoix, Quebec

BERLIN (Reuters) – The trade balance is only part of the current account surplus, a spokesman for the German government said on Wednesday, amid repeated complaints from U.S. President Donald Trump that the United States has large trade deficits with many countries.

Chancellor Angela Merkel said on Tuesday that the United States runs a large account surplus with Europe if services are included in the total.

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