Germany is using a “grossly undervalued” euro to exploit the United States and its E.U. partners, Donald Trump’s top trade adviser has said in comments that are likely to trigger alarm in Europe’s largest economy.
Peter Navarro, the head of Mr Trump’s new National Trade Council, told the Financial Times the euro was like an “implicit Deutsche mark‘ whose low valuation gave Germany an advantage over its main partners. His views suggest that the new administration is focusing on currency as part of its hard-charging approach on trade ties.
In a departure from past U.S. policy, Mr Navarro also called Germany one of the main hurdles to a U.S. trade deal with the E.U. and declared talks with the bloc over a Transatlantic Trade and Investment Partnership dead.
This post was published at Financial Times
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