"Together, the EU and the US account for more than 40% of global economic output and nearly one-third of world trade. In 2024, they exchanged goods worth more than $975 billion (867 billion). Including services, total transatlantic trade reached 1.68 trillion ($1.97 trillion), according to a report by the European Council, the body representing EU heads of state and government."
"In services, the US records a substantial surplus, driven by the growing dominance of tech giants such as Apple, Amazon, Microsoft, Meta, and Google. Financial and IT-related services, particularly licensing revenues, also play a major role. In 2024, the US services surplus with the EU amounted to 148 billion. When goods and services are combined, the overall US deficit shrinks to around 50 billion. The transatlantic trade relationship is therefore far more balanced than Trump often suggests."
"The US imports significantly more goods from the EU than it exports to the bloc. The deficit widened from 156 billion in 2023 to 197 billion in 2024. On a global scale, the US trade deficit totaled roughly $1.17 trillion, according to the US Census Bureau. The EU posts sizable surpluses in vehicles and pharmaceuticals. The US, by contrast, runs surpluses only in oil, gas, and coal."
Transatlantic trade accounts for over 40% of global output and nearly one-third of world trade. In 2024, EU–US goods trade exceeded $975 billion and total trade including services reached $1.68 trillion. The United States runs a sizable goods deficit with the EU, widening to $197 billion in 2024, while posting surpluses in oil, gas and coal. The EU records surpluses in vehicles and pharmaceuticals. The United States runs a substantial services surplus—about $148 billion in 2024—driven by large tech firms and financial and IT licensing revenues. Combined trade yields an overall US deficit near $50 billion. Digital-services tariffs or taxes could disproportionately harm US exporters; the EU has instruments such as the Anti-Coercion Instrument to respond.
Read at www.dw.com
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