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The U.S. and European Union have just weeks to reach a new trade deal before President Trump on most imports from the 27 EU member countries starting Aug. 1.
The EU negotiates trade policy as a single entity and was the U.S.'s top goods trading partner in 2024, according to . In 2024, the U.S. imported around $606 billion in goods from the EU and exported around $370 billion worth of products to it.
But according to the , the EU was the fourth-largest buyer of American agricultural products in 2024, purchasing a record $12.8 billion in these goods. Top exports to the EU included oilseeds like sunflower and sesame seeds, nuts and processed nut products like peanut butter, and soybeans.
By comparison, the U.S. imported $36 billion in agricultural products from the EU in 2024 — buying billions of dollars worth of European wine, animal products, and grains and feeds.
Certain American food products are also less available in Europe because of consumer preferences and regulations, as the EU bans some American food products that contain certain additives they have for human consumption.
Another frequent target of President Trump's criticism is the EU's trade imbalance on cars.
"They sell us 13 million cars. We sell them none," Mr. Trump at an event in May.
It is true that the United States imports far more European vehicles than the number of American-made vehicles it exports to the EU, but the EU does buy some American cars.
In 2024, the EU imported about 165,000 American vehicles, valued at roughly $8.8 billion at current exchange rates, according to a by the European Automobile Manufacturers' Association. By comparison, the same data shows the U.S. imported about 750,000 vehicles from the EU in 2024, worth $43 billion.
Both trading partners have long imposed tariffs on foreign vehicles. The EU charges a 10% tariff on U.S. passenger cars, while the U.S. charged 2.5% on EU passenger cars until Mr. Trump on all foreign vehicles to 25%. The U.S. has also maintained on EU pickup trucks since the 1960s.
Apart from tariffs, industry analysts U.S. cars are less competitive in the EU market for a number of other reasons, including that the member nations tend to have higher fuel economy standards, higher gas costs, and their buyers tend to prefer smaller cars.
Though Mr. Trump often focuses on cars, they're not the biggest sector. Biological products and medication are actually the top commodities the U.S. imports from the EU, according to data from the U.S. Census Bureau. This is driven partly by some maintaining manufacturing facilities in EU countries with lower corporate tax rates like Ireland.
On the export side, the top U.S. exports to the EU include oil and natural gas, airplanes, and immunological products like blood plasma.
Over the weekend, European Commission chief Ursula von der Leyen the EU still hopes to reach a new agreement with the U.S.
"We have always been clear that we prefer a negotiated solution," von der Leyen said, adding, "We will continue to prepare countermeasures so we are fully prepared."
