📈 Germany, Italy, and Ireland Face Highest Risk of Increased U.S. Import Tariffs Among EU Countries

Trade Balance of Major EU Countries with the U.S. and China (12 Months Ended August 2024)

Germany, Italy, and Ireland Face Highest Risk of Increased U.S. Import Tariffs Among EU Countries

In the 12 months ending in August 2024, several major EU countries recorded trade surpluses with the U.S. while nearly all experienced trade deficits with China. Germany led in trade surplus with the U.S. at €89.5 billion, followed by Italy (€41.2 billion), Ireland (€39.2 billion), Austria (€11.2 billion), and Sweden (€10.2 billion). In contrast, the Netherlands and Spain had trade deficits with the U.S. of €28.9 billion and €6.1 billion, respectively.

During this period, Germany achieved a modest €2.4 billion trade surplus with China. However, trade deficits with China were substantial for the Netherlands (€83.6 billion), Italy (€32.5 billion), Poland (€29.3 billion), Spain (€27.8 billion), Belgium (€22.6 billion), Czechia (€22.0 billion), and France (€17.9 billion).