The United States are the main destination of European Union (EU) exports (excluding the Single Market). As transatlantic trade tensions intensify, some European industries are particularly exposed to the risk of losing access to the U.S. market.
Since taking office, Donald Trump has fully embraced his 'tariff mania,' imposing higher taxes on certain countries and products, even going so far as to introduce reciprocal tariffs. This has led to a wide range of import duties on the U.S. market.
Faced with the protectionist threats from the United States or China targeting sectors that play a significant role in the trade of some of its members, the European Union (EU) might be inclined to present a united front due to the strong interconnection of its economies.
China dominates global trade with 730 products for which it accounts for more than half of global exports in 2023, far more than the EU, the United States, and Japan.
China, in addition to being one of the leading producers of minerals used in electric vehicle batteries, has also become the largest importer, thanks to its massive investments worldwide.
The boom in international trade in healthcare products does not date back to the Covid-19 pandemic but to the great multilateral trade opening of the 2000s. Will the protectionist tensions that have been building since 2022 slow this growth?
The automotive sector plays a central role in Donald Trump's declarations on trade deficits and his threats of protectionist measures against the European Union (EU) as well as Canada and Mexico. With a $270 billion motor vehicle trade deficit in 2023, cars are one of the major items, nearly a quarter of the total, in the US trade deficit after consumer goods.