European Union? Isn't that a group of countries? It's odd that they are not listed individually. Wondering if more will BREXIT the Union with these tariffs? I'm sure some countries have more imports/exports than others… and how will this affect them long term?
How Much Does the U.S. Trade With the EU?
The EU is one of America’s largest trading partners, accounting for $555 billion in goods traded in 2024. The U.S. exported $341.9 billion worth of goods from the EU. Imports from the EU amounted to $555.6 billion, making the trade deficit $213.6 billion, one of the highest ever on record, according to the U.S. Census Bureau.
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U.S. Census Bureau. "Trade in Goods With European Union."
Trade relations between the United States and the European Union (EU) hit a bit of a rough patch when President Donald Trump imposed tariffs during his first term on many goods made in Eurozone countries. Numerous other political moves have affected U.S./EU trade over the years, however.
Example of U.S./EU Trade
Trade relations between otherwise friendly regions can take a turn for the worse if a nation feels that a key industry is threatened by unfair practices abroad.
The first Trump administration proposed additional duties on EU exports that were worth $11 billion in retaliation for a bloc granting aircraft manufacturer Airbus (EADSY) what they viewed to be illegal subsidies.
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The World Trade Organization (WTO) ended up ruling that the subsidies hurt the U.S. by causing an Airbus rival, Boeing Co. (BA), to lose sales in an uncompetitive manner.
The WTO also ruled that the EU failed to comply with its rulings, paving the way for the U.S. to impose countermeasures. The U.S. was awarded $7.5 billion as compensation in 2019.
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The EU was then authorized in 2020 to impose tariffs of $4 billion due to illegal subsidies granted by the U.S. government to Boeing.
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Aviation Pros. “WTO to Authorize Tariffs on $4 Billion of U.S. Exports to the European Union in the Boeing Subsidies Case.”
The list of EU products covered by additional duties included aircraft, helicopters, and fuselages from France, Germany, Spain, and the United Kingdom as well as a variety of non-airline-related items such as cheeses, fruits, jams, wines, and yarns from any of the 28 member states of the Eurozone.
moar
https://www.investopedia.com/investing/how-much-does-us-trade-eu/