EU exports to the US have fallen sharply due to a double blow.

Photo caption — Transatlantic trade has suffered heavy losses. The EU's surplus with the US has fallen sharply, while European exporters have struggled with unpredictable trade policies from the White House (in photo: View of a cargo port in Duisburg, Germany). Photo: THX/TTXVN

According to the European news site euronews.com on September 26, the European Union (EU) exports to the US are suffering a sharp decline, affected by two main factors: the application of new tariffs by President Donald Trump and the significant appreciation of the euro. This combination has significantly reduced Europe's trade surplus and put heavy pressure on key industries such as automobiles and pharmaceuticals.

Data from UN Comtrade paints a worrying picture of transatlantic trade. First, a 10% drop in July: In July 2025, the US imported $53.7 billion (€46.6 billion) of goods from the EU, down 10% from the same month last year.

Second, quarterly trends: In the last three months, EU exports to the US totalled $168.1 billion (€147.1 billion), down sharply from $213.2 billion (€197.3 billion) in the previous quarter. Although the previous quarter was boosted by a surge in imports ahead of the new tariffs (April 2), the decline still reflects a clear weakening trend.

The decline in exports has led to a narrowing of Europe’s trade surplus with the US. In July this year, the EU recorded a surplus of just $11.97 billion – down nearly half from $23.6 billion in the same period in 2024. Looking at the three-month trend, the trade surplus has fallen to $40.4 billion (€35.4 billion), compared with $61.9 billion (€57.2 billion) in the same period in 2024.

Two key European export sectors, pharmaceuticals and automobiles, led the decline:

Pharmaceuticals: US imports of European pharmaceuticals fell to $9.5 billion (€8.2 billion) in July 2025, compared with $11.5 billion (€10.6 billion) in the same period last year.

Autos: Vehicle exports were hit harder. US imports of European cars fell to $4.68 billion (€4 billion), down from $6.2 billion (€5.7 billion) in July 2024. The three-month trend also showed a sharp decline, from $19.3 billion a year earlier to $13.6 billion in the latest period.

Double blow: Tariffs and currency

Two main factors have been identified as hindering transatlantic trade:

One is new tariffs: On April 2—dubbed “Liberation Day” by the US administration—President Trump imposed a 20% tariff on all imports from the EU, which was reduced to 15% in July. While that is still much lower than some other US trading partners, it is five times higher than last year’s rate. For cars, the US agreed to a 15% tariff, down from the original 27.5%.

Second, a stronger euro: The euro has appreciated significantly against the US dollar this year, making European goods more expensive for American buyers. The common currency rose from $1.02 at the start of the year to $1.18 in September. Compared to July 2024, the euro has gained more than 8%, eroding exporters’ price competitiveness.

Nicola Nobile, an economist at Oxford Economics, said the 15% tariff in the US-EU trade deal was slightly higher than they had assumed, but it "would reduce the trade policy uncertainty that has dominated the outlook in recent months".

However, the expert also emphasized that "there are still too many unknowns about US trade policy for the uncertainty to completely disappear."

With these dual political and monetary disadvantages, the second half of 2025 is expected to continue to be a challenging time for European exporters heading to the world's largest economy, the US.

Source: https://baotintuc.vn/the-gioi/xuat-khau-cua-eu-sang-my-suy-giam-manh-do-bi-giang-don-kep-20250927172720974.htm