The US and the European Union have only a few weeks to reach a new trade deal before President Trump 30% tariff plan plan Most of the importance from 27 European Union member countries starting on 1 August.
The European Union interacts on the trade policy as a single unit and in 2024, according to America’s top goods trade partner, US Census Bureau StatisticsIn 2024, the US imported goods worth about $ 606 billion from the European Union and exported about $ 370 billion products for it.
European Union leaders have warned that they are ready to impose high tariffs on hundreds of American imports until no deal can be signed in the coming weeks. Economists say the dispute can increase consumer prices on both sides of Atlantic.
Mr. Trump has essentially defended tariffs to protect American workers, the block has misrepresented the US for years as evidence, pointing to the trade imbalance on goods and the tariff of the Higher European Union.
The President has also said that the European Union does not buy American cars or agricultural products. However, trade data of 2024 suggests that this is incorrect. While the US has imported more cars and agricultural products from Europe in recent years, as it exports there, the European Union remains an important market for these American products.
Here is the breakdown of data.
European Union is America’s fourth largest buyer of agricultural products
President Trump has repeatedly suggested that Europe does not buy agricultural goods from American farmers and producers.
“The European Union, in many ways, is Nasteer compared to China, OK?,” President Trump Said In an incident on 12 May. “They sell us their agricultural products. We do not sell them almost. They do not take our products.”
But according to US agriculture departmentThe European Union was the fourth largest buyer of US agricultural products in 2024, which bought a record of $ 12.8 billion in these goods. Top exports of the European Union included sunflower and sesame seeds, nuts and processed walnut products such as peanut butter and soybean.
Comparatively, the US imported $ 36 billion in agricultural products from the European Union in 2024 – purchase of billions of dollars of European liquor, animal products and grains and feeds.
The White House has not responded to the request of clarification on the President’s claim.
Before Mr. Trump picked up the tariff 10% base in AprilThe European Union maintained a high average tariff on foreign agricultural products compared to the United States. In 2023, European Union’s average tariff on foreign agricultural commodities Was 10.8%Compared to US rate of 5%.
Some American food products are also less available in Europe due to consumer preferences and regulations, as the European Union bans some American food products that have some additives Understanded insecure For human consumption.
The European Union buys more than 160,000 American vehicles every year
Another consistent goal of criticism of President Trump is the trade imbalance of the European Union on cars.
“They sell us 13 million cars. We do not sell them,” Mr. Trump Claimed In an incident in May.
It is true that the United States imports more European vehicles than the number of American-made vehicles exporting to the European Union, but the European Union buys some American cars.
In 2024, the European Union imported around 165,000 American vehicles, which cost around $ 8.8 billion at current exchange rates. Report By the European Automobile Manufacturers Association. Comparatively, the same data imports about 750,000 vehicles from the European Union in 2024, priced at $ 43 billion.
Both business partners have long imposed tariffs on foreign vehicles. The European Union charges a 10% tariff on American passenger cars, while the US charged 2.5% on the passenger cars of the European Union till Sri Trump. Tariff raised 25%on all foreign vehicles. America has also maintained A 25% tariff On the European Union pickup trucks since the 1960s.
Tariff, in addition to industry analysts Tell The US cars are less competitive in the European Union market for many other reasons, including that member nations have standard, high gas costs of high fuel economy, and their buyers prefer small cars.
Other major products include pharmaceuticals and crude oil
Although Mr. Trump often focuses on cars, he is not the largest area. According to data from the US Census Bureau, biological products and drugs are actually top commodities from the European Union. It is partially powered by something American pharmaceutical companies Maintaining manufacturing facilities in European Union countries with low corporate tax rates like Ireland.
In recent weeks, President Trump has swims tariffs 200% as high rate Foreign-made pharmaceuticals until companies manufacture in the US
In the export side, top American exports for the European Union include oil and natural gas, airplanes and blood plasma such as immunological products.
In the weekend, European Commission chief Ursula von Der Leyen Said The European Union still expects to reach a new agreement with the US
“We are always clear that we prefer a solution to a conversation,” von Der Leyen said, “We will continue to prepare counterers so that we are fully prepared.”
Contributed to this report.
