Although threats have been made regarding a trade war between the US and the EU, the amount of goods slapped with a tariff only make up a small percentage of the traded goods between the EU and the US. Their trading relationship is still very strong. Deutsche Welle took a look at the trading relationship between the US and the EU and then between the US and Germany.
Trade between the US and the EU is dominated by manufactured goods and components. The bulk of exported European goods to the US is made up of:
– machinery (€56 billion)
– packaged medicine (€47.6 billion)
– vehicles (€47 billion)
– medical and pharmaceutical equipment (€23.7 billion)
The US imports similar — albeit fewer — goods into the EU. However, it boasts a significant advantage over the bloc when it comes to exporting motor engines and aircraft equipment, which last year amounted to roughly €28 billion and €25 billion respectively.
Out of all the EU member states, Germany is by far the US’s largest trading partner within the bloc when it comes to goods. In fact, with total exports last year reaching €112 billion, Germany accounted for almost 30 percent of all EU exports going to the US. At almost €40 billion, transport-related goods made up 30 percent of all US imports, with the vast majority being vehicles. In fact, the US remains Germany’s largest single export market for cars.
Read more on Deutsche Welle’s website.