The EU is one of America’s largest economic partners, with more than €1.5 trillion worth of goods and services traded each year.
The 27-member bloc runs a trade surplus in goods with the United States, which Trump has frequently criticized. However, the U.S. runs a surplus in services; the overall U.S. trade deficit with the EU was a relatively small €48 billion in 2023.
The European Commission denounced Washington’s announcement of new tariffs on Friday as “a step in the wrong direction.”
“The EU maintains some of the lowest tariffs in the world and sees no justification for increased US tariffs on its exports,” the Commission said in a statement.
European Commission President Ursula von der Leyen doubled down on a pledge to take action if the United States imposes tariffs.
“We will use our tools to safeguard our economic security and interests. And we will protect our workers, businesses and consumers at every turn,” she said at the Munich Security Conference on Friday.
