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ReutersBRUSSELS - The European Union's trade surplus with the rest of the world shrank by 60% in February as exports to the United States dropped by more than a quarter, with US import tariffs of 15% largely in place on EU goods.
EU exports as a whole were 9.3% lower in February than a year earlier, while imports were down 3.5%, EU statistics office Eurostat said on Friday.
The largest export decline was towards the US, with a drop of 26.4%, while imports from the United States were 3.2% lower. EU exports to China were also down.
A year ago, EU exporters had begun front-loading shipments to the US in anticipation of President Donald Trump's tariffs, inflating the export figures for early 2025 and potentially explaining February's sharp decline.
Exports to the United States in February 2025 rose by 22.4% year-on-year.
On February 20, the US Supreme Court struck down Trump's sweeping tariffs, which he had pursued under a law meant for use in national emergencies. But only days later, the US imposed a new temporary global import levy and is planning to reconstruct tariffs to replicate those agreed with the EU last year.
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EU exports as a whole were 9.3% lower in February than a year earlier, while imports were down 3.5%, EU statistics office Eurostat said on Friday.
The largest export decline was towards the US, with a drop of 26.4%, while imports from the United States were 3.2% lower. EU exports to China were also down.
A year ago, EU exporters had begun front-loading shipments to the US in anticipation of President Donald Trump's tariffs, inflating the export figures for early 2025 and potentially explaining February's sharp decline.
Exports to the United States in February 2025 rose by 22.4% year-on-year.
On February 20, the US Supreme Court struck down Trump's sweeping tariffs, which he had pursued under a law meant for use in national emergencies. But only days later, the US imposed a new temporary global import levy and is planning to reconstruct tariffs to replicate those agreed with the EU last year.
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