The European Union’s goods trade surplus with the US expanded in April even after US tariffs, data released today showed, while the bloc’s exports to China dropped for a ninth consecutive month.
The EU’s surplus in goods trade as a whole declined to €7.4 billion from €12.7 billion in April 2024, data from EU statistics agency Eurostat showed.
The EU goods surplus with the US increased, as it has done every month since January 2024.
Both exports to and imports from the US increased for a fourth consecutive month in April, although the growth was lower than in previous months.
US President Donald Trump has announced wide ranging tariffs on trade partners, and wants to reduce the US goods trade deficit with the EU.
In March, EU exports to the US jumped by 59.5%, implying US importers were building stocks of EU and other goods ahead of tariff increases.
European Union exporters faced 25% tariffs on steel and aluminium from March 11, on cars from April 3 and on car parts from May 3. Washington doubled the rate on metals to 50% on June 4.
It also imposed so-called “reciprocal” tariffs on most EU goods on April 5, initially at 20%, but almost immediately cu tto 10% until July 8.
The bloc’s surpluses with Britain, Switzerland and Mexico fell, while its deficits with China, Norway and South Korea widened in April.
EU exports of machinery and vehicles to the rest of the world fell by 4.3%. There were also declines of its exports of raw materials and energy products, while food and drink and chemicals exports were higher than in April 2024.
