Trump announced on February 27 that he would impose a new round of tariffs on Mexico and Canada, to be implemented on March 4, along with an additional 10% tariff on China. Regarding the EU, Trump said he would impose 25% tariffs on cars and all other goods.
After taking office, Trump's first priority is to resolve what he considers to be unfair trade relationships, especially with some of the United States' closest neighbors and trading partners.
According to data from the European Commission, the EU's goods trade surplus with the United States reached 155.8 billion euros (about 159.6 billion U.S. dollars) in 2023, but the services trade deficit was 104 billion euros. By product category, the EU's top exports to the United States are machinery and vehicles, followed by chemicals, other manufactured goods, and medicines and pharmaceutical products.
However, the U.S.'s imposition of additional tariffs on EU imports may result in higher prices for U.S. consumers. Economists have warned that import tariffs could bring inflationary pressures.
The EU has said it will respond to these measures in a "corresponding manner", pledging to take firm and immediate counteraction against any unreasonable trade barriers, especially when tariffs are used to challenge legitimate and non-discriminatory policies.
The European Commission stressed that the EU is the world's largest free market and a great boon to the United States. By creating a large, integrated single market, the EU facilitates trade, lowers costs for U.S. exporters, and harmonizes standards and regulations across 27 countries, making U.S. investments in Europe lucrative. Therefore, the EU urges the United States to cooperate with it to jointly safeguard these opportunities and benefit EU people and businesses, rather than confront each other.
As for the United Kingdom, which has left the European Union, Trump has hinted in the past that the trade relationship between the United States and the United Kingdom is relatively balanced, so it is possible for the two sides to reach an agreement.
