US President Donald Trump argues that the US economy is disadvantaged in global markets and wants to reduce the trade deficit through tariffs. Taken together, the 27 member states of the European Union form the United States’ largest trading partner.
Below are the key questions and answers on trade disputes and mutual dependence.
How large is trade between the EU and the US?
Together, the EU and the US account for more than 40% of global economic output and nearly one-third of world trade. In 2024, they exchanged goods worth more than $975 billion (€867 billion).
Including services, total trans-Atlantic trade reached €1.68 trillion ($1.97 trillion) in 2024, according to a report by the European Council, the body representing EU heads of state and government.
