The European Union's foreign trade surplus fell by 60% in February, largely due to a significant drop in exports to the United States, which decreased by more than a quarter. These figures were published by the EU's statistical office.

Export and Import Trends

In February, total exports of goods from the EU declined by 9.3% compared to the same month last year, while imports dropped by 3.5%. The most notable decrease in exports was seen in trade with the United States, where exports fell by 26.4%. Imports from the US also decreased by 3.2%. A reduction in EU exports to China was also recorded during this period.

Reasons for Changes in Trade with the US

The sharp decline in exports to the US followed a period of accelerated shipments at the beginning of 2025, when European exporters increased deliveries in anticipation of tariffs being imposed by the US administration. In February 2025, exports to the US had risen by 22.4% year-on-year.

Trade Tariffs and Their Impact

Throughout February, US import tariffs of 15% were in effect on goods from the EU. On February 20, the US Supreme Court overturned tariffs that had been introduced under the national emergency law. A few days later, new temporary global import duties were imposed, and plans were announced to reinstate tariffs similar to those agreed with the EU in the previous year.