According to Reuters, EU Ambassador to the U.S. Jovita Neliupšienė recently stated that the European Union is ready to address potential trade frictions with the United States, should a new round of tensions arise.
Jovita Neliupšienė emphasized that the U.S. is the EU's most important trading partner, with bilateral trade in goods and services reaching $1.7 trillion and mutual investments totaling $5 trillion. She added that there are significant opportunities for cooperation in areas like energy.
Data from the U.S. Census Bureau shows that the EU's 27 member states exported goods worth $576.3 billion to the U.S. in 2023, accounting for nearly 20% of the EU's total exports, with a trade surplus of $208.6 billion.
However, former U.S. President Donald Trump, who is running for office again, has pledged to impose tariffs of "10% to 20%" on all imports. If Trump enacts global tariffs, the EU could face significant losses.
Trump has also warned that the EU could face repercussions for the trade imbalance, citing the large number of EU-manufactured cars purchased by Americans compared to the relatively low amount of U.S. goods, including cars and agricultural products, exported to the EU.
Despite these concerns, Neliupšienė declined to elaborate on the countermeasures the EU might take.
Given the potential threats to EU economies, particularly major car-producing nations like Germany and Italy, the European Commission is exploring avenues for cooperation with Trump's administration, such as increasing imports of U.S. liquefied natural gas.
Neliupšienė also noted that the EU has collected detailed trade data with individual U.S. states. During her first year as EU ambassador, she has actively visited various regions across the U.S. to strengthen trade ties between the EU and the United States.
