The U.S. and German economies are closely connected. The United States are the largest export market for Germany. Germany is the sixth largest recipient of U.S. goods.
Roughly one third of transatlantic trade is intracompany trade, i.e. trade of components and products between the subsidiaries of one company. Furthermore, trade is not only about the exchange between two countries – supply chains are global and even simple products contain components that have been produced in multiple countries. Further reducing unnecessary trade and investment barriers, establishing predictable trade rules and efficient customs procedures and maintaining close cooperation in a rules-bases global trade system are thus of key importance and are a core component of transatlantic cooperation.