The European Union’s trade dynamics with major global partners have shown mixed results, as the bloc’s goods trade surplus with the United States grew in April, while exports to China continued to decline. According to data from Eurostat, the EU’s overall goods trade surplus fell to 7.4 billion euros ($8.5 billion) from 12.7 billion euros compared to April 2024.
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Despite U.S. tariffs, the EU’s trade surplus with the United States has consistently increased every month since the beginning of 2024. Both exports to and imports from the U.S. rose for the fourth consecutive month in April, although the pace of growth has slowed. This trend comes amidst the backdrop of U.S. President Donald Trump’s tariffs aimed at reducing the U.S. goods trade deficit with the EU.
In March, EU exports to the U.S. surged by 59.5%, indicating that U.S. importers might have been stockpiling EU goods ahead of the tariff hikes. The tariffs, which included a 25% duty on steel and aluminum from March and subsequent tariffs on cars and car parts, have had a significant impact on trade flows.
While the EU’s surplus with the United States increased, its trade balances with other countries such as Britain, Switzerland, and Mexico decreased. Additionally, the EU’s trade deficits with China, Norway, and South Korea expanded in April. According to data from the IndexBox platform, EU exports of machinery and vehicles to the rest of the world declined by 4.3%, with similar trends observed in exports of raw materials and energy products. However, the bloc saw an increase in food, drink, and chemical exports compared to April 2024.
