EU-US trade declines in first quarter

WAM
09 Jun 2026, 15:20 GMT+10

BRUSSELS, 9th June, 2026 (WAM) -- Trade between the European Union and the United States recorded a sharp decline during the first quarter of 2026, with the value of goods exchanged falling by around 30 percent compared with the same period last year, according to data released by Eurostat.

The decline comes amid the impact of the trade deal imposed in August 2025, under which the United States set a 15 percent tariff on several goods, directly affecting the volume of trade between the two sides.

Data showed that the tariffs have hit key European sectors such as cars, pharmaceuticals and semiconductors, as well as agricultural products.

Despite the decline, the United States remains the European Union's largest export market, with about 120 billion, roughly 19 percent of the bloc's total export value in goods. The trade decline with Washington also contributed to a 9 percent decline in value in overall EU exports to the rest of the world during the same period.

Exports also dipped with other main partners, China (8 percent) and Trkiye (8 percent). Meanwhile, exports to Indonesia surged by 23 percent in the first quarter of 2026, following the finalisation of a new trade agreement called the Comprehensive Economic Partnership Agreement (CEPA), which aims to cut or remove tariffs and streamline customs procedures. The agreement is expected to come into force later this year or in 2027.

Exports also grew, albeit less significantly, to India (1.8 percent) and the United Kingdom (2.3 percent).

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