Exports from the European Union to the United States experienced a substantial decline in the first three months of 2026, amid ongoing negotiations regarding a comprehensive trade agreement. According to Eurostat data, the value of goods exchanged with the US dropped by 30% compared to the same period last year. This downturn is attributed to tariffs imposed by the US administration on various EU goods, affecting key sectors such as automotive, pharmaceuticals, semiconductors, and food products.
Despite the challenges, the US remains the bloc’s largest export market, accounting for approximately 19% of total EU goods exports. The overall performance of European exports declined by around 9% compared to the first quarter of 2025. While trade also fell with China and Turkey by 8% each, the most significant reduction was recorded with Iran, which saw a 44% decrease in exports, largely due to sanctions.
Conversely, positive developments were noted in other regions. Exports to Indonesia rose by 23% following the finalization of a Comprehensive Economic Partnership Agreement (CEPA). Growth was also recorded to India (+1.8%) and the United Kingdom (+2.3%).
The EU is currently preparing to implement its commitments under the trade deal, which involves removing tariffs on certain US industrial goods and providing preferential access for products like dairy and pork. However, trade tensions persist, with US officials recently threatening additional tariffs over
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