EU trade surplus with US increased in April despite Trump's tariffs

According to data published last week by the European Union (EU) statistics agency, the bloc's trade surplus in April amounted to €7.4 billion (about $8.5 billion). This is significantly lower than the €12.7 billion ($14.6 billion) recorded in April 2024. Nevertheless, exports of European goods to the United States increased during this period, despite Donald Trump's tough tariff policy, Reuters reports. At the same time, EU trade activity with China declined.

In March, EU exports to the US went up by 59.5%. The news agency's experts attribute this to American importers getting ready for higher tariffs. Since March 11, European manufacturers have faced 25% import duties on steel and aluminum. Since April 3, additional duties have been imposed on automobile imports, and since May 3, on auto parts as well. In addition, in early June, Washington doubled import tariffs on metals from 25% to 50%.

In April, the EU surplus with the UK, Switzerland, and Mexico decreased, while the deficit with China, Norway, and South Korea increased, Reuters adds.