"President Trump is threatening to ramp up the U.S. trade war with Europe, and costs to move products such as cars, pharmaceutical products and airplane parts across the Atlantic are at stake.
This marks a major new trade threat against a bloc of 27 countries that add up to the largest U.S. trade partner, ahead of Mexico, Canada and China. In 2024, the U.S. imported about $606 billion in goods from the EU and exported roughly $370 billion. This kind of imbalance is a major sticking point for Trump as he tries to use tariffs to revamp U.S. manufacturing.
Trade in goods and services with the EU accounted for about 4.9% of U.S. gross domestic product in 2024, according to Bureau of Economic Analysis data. That means trade with Europe is an even bigger part of the U.S. economy than trade with China, which accounted for 2.2% of U.S. GDP last year.” [1]
1. Trade Between the U.S. and Europe Is Massive. Putzier, Konrad. Wall Street Journal, Eastern edition; New York, N.Y.. 24 May 2025: A2.
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