Angela Merkel’s Real Work Is Starting Now in Her Fourth Term

German Chancellor Angela Merkel has her work cut out now that she’s on track to start her fourth term.

President Donald Trump’s threat of tariffs on European cars, China’s global investment push and Emmanuel Macron’s calls for a closer-knit euro area all demand a German response following more than five months of political stalemate in Europe’s biggest economy. Merkel, 63, is expected to be sworn in by mid-March after the Social Democrats voted to stay in her government.

Angela Merkel

“Europe can’t move forward without Germany,” and the “clear result” of the SPD members’ ballot bolsters Merkel’s position, said Holger Schmieding, chief economist at Berenberg bank.

While Merkel leading another four-year coalition of Germany’s two biggest parties suggests continuity, global challenges are accelerating and the next government — possibly her last — may be more fractious than the previous one. Here’s a look at some of the issues in play.

Trade War

Trump’s tariffs on steel and aluminum imports threaten to hit hard in Germany, Europe’s biggest exporter and a frequent target of criticism for its trade surplus. By putting the European auto industry into his sights , the U.S. president is broadening his attack on

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