The export surplus of EU countries in trade with the US has increased significantly in 2018, despite criticism from US President Donald Trump. The export of goods to the world’s largest economy exceeded imports by about 140 billion euros. That’s almost 17 percent more than in 2017, as the statistics office Eurostat announced today. Germany contributed to this: According to the Federal Statistical Office, the German export surplus alone totaled around 49 billion euros last year.
Trump has repeatedly denounced his country’s deficit in trade in goods with the EU. The European economy fears that it could continue to foreclose the US market. Steel and aluminum imports from EU countries have already been subject to higher tariffs. Special tariffs on European cars could follow if negotiations to dismantle trade barriers fail.
