Euostat figures show bloc recorded a surplus in traded goods with the US last year of close to €200bn
In 2024, the EU's trade surplus with the US reached nearly €200 billion, with Ireland contributing significantly through pharmaceutical exports. The US is set to impose tariffs on steel and aluminum, prompting potential retaliatory measures from the EU. Trade Commissioner Maroš Sefcovic states the US is not engaging in deal-making. The US goods trade deficit with Ireland is a concern, though the US has a surplus in services trade. Trump's proposed corporate tax cuts could further impact Ireland, and he is also increasing tariffs on Canada. These policies raise concerns about a potential US economic slowdown or recession.
