The trade deficit between the United States and the European Union is a topic of contention, with US President Donald Trump claiming a $350 billion deficit, a figure disputed by European Trade Commissioner Maros Sefcovic. Sefcovic emphasized the importance of basing discussions on real facts and figures.
There is a discrepancy in how trade deficits are calculated between the US and the EU. The European Commission noted that the 'true value' of the deficit is often unclear and could fall between the estimates provided by both partners or even outside that range.
According to the latest available data from the European Commission for 2023, the EU had a trade surplus of $161.7 billion for goods exported to the US. In contrast, US census data for the same period reported a trade deficit of $208.7 billion, which increased to almost $213.7 billion in 2024.
Despite the differing figures, the actual gap is significantly smaller than Trump's claim. Sefcovic expressed a commitment to resolving the deficit through constructive engagement and discussions to maintain the crucial trade and investment relationship between the US and the EU.
He also warned of potential firm responses if the EU is unfairly targeted, emphasizing the desire to avoid disruptions to the trade partnership. European Commission Vice President Stephane Sejourne highlighted the mutual losses that would result from a trade war, underscoring the importance of finding amicable solutions.
