By Maria Martinez and Rene Wagner <\/p>\n
BERLIN, July 3 (Reuters) – Trade in goods between the European Union and the U.S. reached a record \u20ac875 billion ($1.00 trillion) last year despite \u200ctariffs, but the figures mask significant economic damage, notably to Germany’s auto sector, a \u200cstudy published on Friday found. <\/p>\n
The research by the German Economic Institute, or IW, found a 7.7% rise in EU exports \u200bto the U.S. to \u20ac580 billion, while U.S. imports into the EU climbed 2.2% to \u20ac295 billion, pushing the EU’s trade surplus to nearly \u20ac285 billion. <\/p>\n
The report attributed some of the increase to front-loading of exports ahead of tariffs that took effect in April and said European manufacturing had suffered. <\/p>\n
“This first impression is misleading,” \u200csaid IW economist Samina Sultan. <\/p>\n
EU car \u2060and parts exports to the U.S. fell 20.4% in 2025, with Germany, which accounts for nearly two-thirds of EU auto exports to the United States, \u2060posting an 18.9% drop. <\/p>\n
Ireland bucked the trend with a 52.7% surge in exports, driven by tariff-exempt pharmaceutical and chemical products. <\/p>\n
Most EU member states recorded a decline in their goods exports to the U.S. Apart \u200bfrom Ireland \u200bonly the Czech Republic (+5.1%), Italy (+7.2%), Denmark (+10.6%) and Finland (+10.8%) \u200breported growth. <\/p>\n
TRANSATLANTIC SERVICES ALSO HIT A RECORD <\/p>\n
Transatlantic \u200cservices trade also hit a record \u20ac865 billion, though the EU ran a \u20ac178 billion deficit in that category. <\/p>\n
“The transatlantic trade relationship is therefore much more balanced, when considering both goods and service trade,” the study said, contrasting the EU deficit in services and the surplus in goods. <\/p>\n
Intellectual property fees – covering software licences, patents and trademarks – accounted for more than 40% of EU service imports from \u200cthe U.S., rising 13.7%. <\/p>\n
Although the services sector has so \u200bfar avoided the impact of U.S. tariffs, the trade conflict \u200bhas had a negative effect. <\/p>\n
EU imports \u200bof travel services from the U.S. fell by around 8%. “This decline is likely \u200cattributable to the reduced number of European \u200btourists in the U.S. \u200blast year,” said co-author Galina Kolev-Schaefer. <\/p>\n
The study said the Turnberry trade deal between the EU and the U.S. asymmetrically benefited the U.S., but still it was a workable solution \u200bthat should be honoured by both \u200csides. <\/p>\n
“New tariff threats would cause new uncertainty that only hampers business activities on \u200bboth sides of the Atlantic,” the IW said. <\/p>\n
($1 = 0.8730 euros) <\/p>\n
(Reporting by Maria Martinez and \u200bRene WagnerEditing by Miranda Murray and Barbara Lewis) <\/p>\n","protected":false},"excerpt":{"rendered":"By Maria Martinez and Rene Wagner BERLIN, July 3 (Reuters) – Trade in goods between the European Union…\n","protected":false},"author":2,"featured_media":742436,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101,318956,5335,318957,23226],"class_list":["post-742435","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-eu-member-states","tag-european-union","tag-iw","tag-trade-surplus"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/742435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=742435"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/742435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/742436"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=742435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=742435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=742435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}