EU Exports to the US Surge by 22.4% in February 2023
(Reuters) -European Union exports to the United States increased by 22.4% in February compared to the previous year, Eurostat data showed on Wednesday, marking the highest exports growth rate in 13 months and totalling 51.8 billion euros.
Meanwhile, imports from the U.S. rose by 2.4% year-on-year to 28.2 billion euros.
On February 13, U.S. President Donald Trump tasked his economic team with developing plans for reciprocal tariffs on every country that taxes U.S. imports.
Despite threatening to impose a variety of trade penalties since his return to the White House in January, President Trump has postponed many of these actions.
The EU as a whole in February posted a surplus of 23 billion euros, compared to a deficit of 5.6 billion euros in January.
In 2024 exports to the U.S. had increased by 5.5% compared to a year earlier, while imports declined by 4.0%.
(Reporting by Antonis Pothitos and Jagoda Darlak; Editing by Toby Chopra)
