The trade deficit between the United States and the European Union is significantly smaller than the number claimed by President Donald Trump, said on Tuesday.
While signing a presidential order in an elliptical office on Monday, Trump argued that there was a deficit of $ 350 billion between the United States and the European Union.
“Europe has been abused the United States for years, but they can’t do it,” said Trump.
Prior to the EU trade in Warsaw and the Minister of Industry’s meeting, Sefcovic said that the EU would establish a “discussion with the new US government on actual facts and numbers.”
Details of numbers: However, in various ways in which the trade deficit is calculated, there is a contradiction between the United States and the EU. When calculating their data, the European Commission said that the “true value” is often unknown, “it may be between the estimated values of the two partners or outside that range.” Ta.
According to the latest data from the European Commission, the EU has posted a trade surplus of products exported to the United States of $ 161.7 billion (€ 155.8 billion).
Alternatively, according to the US Census Data at the same time, the US trade deficit to the EU was $ 208.7 billion.
In 2024, it was almost $ 213.7 billion, stating data from the Census. The EU has not yet published last year’s report.
Despite the contradictions of the two numbers, the gap is significantly less than the number in which Trump was advertised on Sunday.
Through “constructive involvement and discussions,” SEFCOVIC has added that the European Commission can work to solve the deficit between the United States and the EU. He said he wanted to avoid many obstructions to the most important relationship between trade and investment in this planet.
“We are preparing for these negotiations, but at the same time, it is very clear that we will respond firmly if it (EU) is unfair or an arbitrarily hit.” I did it.
After the meeting, Vice President of the European Commission, Stephen Sejorn, “If there is a trade war, we will all be a loser.”