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EU exports to US decline due to extra tariffs: data

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EU exports to US decline due to extra tariffs: data

2026-05-06 09:22 Last Updated At:12:43

Exports of the European Union to the United States are shrinking due to extra tariffs imposed on it since Donald Trump took office in 2025.

In a fresh development, Trump on Friday threatened to increase tariffs on cars and trucks imported from the EU to 25 percent.

The auto industry was one of the first and hardest hit sectors in the EU.

In 2025, auto exports from the EU to the United States dropped more than one fifth, according to the European Automobile Manufacturers' Association.

And that happened while the bloc's total exports to the United States were still rising.

Judging by Eurostat numbers, the negative impact of U.S. tariffs was spreading to other major trade categories in the fourth quarter of last year.

EU overall exports to the U.S. fell 15 percent year on year from October to December, dragged down primarily by steel and chemical products.

That downward trend extended into the beginning of this year, with sharp declines of nearly 30 percent in the first two months.

The EU's trade chief has urged the United States to quickly restore the tariff levels agreed under last year's EU-U.S. trade deal, the European Commission said on Tuesday.

On the same day, European Commissioner for Trade and Economic Security Maros Sefcovic met with U.S. Trade Representative Jamieson Greer in Paris, France. A key concern for the EU remains Trump's threat to raise tariffs on EU cars and trucks to 25 percent, according to Sefcovic.

Under the EU-U.S. trade deal reached in July 2025, the EU would suspend tariffs on all U.S. industrial products and introduce tariff-rate quotas for a wide range of U.S. agri-food products entering the EU market. In return, the United States would apply a 15-percent import tariff on most EU goods.

EU exports to US decline due to extra tariffs: data

EU exports to US decline due to extra tariffs: data

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 66 pips to 6.8562 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 6.8562 against USD Wednesday

Chinese yuan strengthens to 6.8562 against USD Wednesday

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