Schaeuble: Germany is open for talks with Trump
United States President Donald Trump takes the German government's arguments seriously and he was right about the things he said about the need for fairer trade and burden-sharing, Wolfgang Schaeuble (pictured) said. Chancellor Angela Merkel's minister of finance told CNBC on Thursday that her government is open for discussion though that the claims the biggest European economy's current account surplus is too large isn't in line with facts. Namely, he added, Germany's investments are significantly high and that wages and pensions have already been rising more than the economy expanded. He denied there is any manipulation in fiscal policy.
Schaeuble noted US President John Kennedy has also called for fairer burden-sharing more than half a century ago. The minister stated Trump is respected in Berlin and that there is close cooperation and communication between him and Merkel. Their bilateral meeting was held with mutual confidence and the chancellor was pleased, Schaeuble stressed. Members of the North Atlantic Treaty Organization have agreed in 2014 in Wales to bump up defense spending to 2% of the gross domestic product in ten years, and Germany is making efforts to do its share, even if it comes with political debate, he said.