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The Maltese Herald

Trade between the EU and the US is more balanced than Trump projects when considering services and finance

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by

Mark Camilleri
in , ,

Earlier today, US President Donald Trump published a statement saying that the US has “a massive financial deficit” with the European Union. This statement is incorrect.

The US had a trade deficit of goods with the European Union of around €157 in 2023, but the EU had a services deficit of €107 billion with the US in 2023. The total value of all trading activities between the EU and the US, amounting to €1.6 trillion in 2023, was far more balanced than the US President is trying to suggest. You can read the full figures here.

On the other hand in Foreign Direct Investment, the US is leading the charge with a an estimated worth of $490 billion more in total of foreign direct investments in Europe across the years, at $3.95 trillion compared to Europe’s $3.46 trillion of foreign direct investments in the US.

President Trump instituted a global US trade war against everyone last week and the European Union is set to retaliate only if ongoing trading negotiations fail.

 

 

 

Comments

5 responses to “Trade between the EU and the US is more balanced than Trump projects when considering services and finance”

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