German Industry Slams ‘America First’ After Siemens Is Foiled in Iraq
- Non-binding MoU with German company follows U.S. push for GE
- ‘America First’ skews business decisions: BDI industry group
Photographer: Timothy Fadek/Bloomberg
This article is for subscribers only.
Germany’s main industry federation said U.S. pressure to quash Siemens AG’s $15 billion power-plant deal with Iraq is unacceptable and shows how President Donald Trump’s “America First” stance is corroding business decisions.
Iraq signed a memorandum of understanding with General Electric Co. on Oct. 15 after U.S. officials warned Prime Minister Haider al-Abadi that U.S.-Iraqi relations would be at risk if his government accepted the deal with Siemens, Bloomberg reported. Adel Jeryan, Iraq’s deputy electricity minister for production and projects, said the country on Saturday also inked an MOU with Siemens and that both memorandums were non-binding.