The United States imports more from the European Union than is commonly recognized, with the EU surpassing China in both total value and number of goods.
A study from Germany’s IW economic institute shows that this reliance has increased significantly over the past 15 years, with over 3,100 product groups now having at least 50% of their imports coming from the EU, up from over 2,600 in 2010.
The total import value of these EU goods reached $287 billion, compared to China’s $247 billion in 2022. The study suggests that the EU should leverage this reliance in tariff discussions with the U. S. and warns that certain EU products may be hard to replace.
It also notes that if trade tensions grow, the EU could impose export restrictions on goods crucial to the U. S. economy.
With information from Reuters
