EU-US trade volume drops in Q1 amid global uncertainty
Trade between the European Union and the United States recorded a sharp decline in the first quarter of 2026, with the value of goods exchanged falling by about 30 percent compared with the same period last year, according to Eurostat data, Qazinform News Agency reports, citing WAM.
The decline occurs amid the effects of the trade deal imposed in August 2025, under which the United States imposed a 15 percent tariff on several goods, directly reducing trade volume between the two parties.
Data indicate that tariffs have affected major European sectors, including automotive, pharmaceuticals, semiconductors, and agriculture.
Despite the decline, the United States remains the European Union’s largest export partner, accounting for about €120 billion, or roughly 19 percent of the EU’s total goods exports. The decline in trade with Washington also contributed to a 9 percent drop in the overall value of EU exports to other countries during that period.
Exports also dipped with other major partners, China (8 percent) and Türkiye (8 percent). Meanwhile, exports to Indonesia surged 23 percent in the first quarter of 2026, following the finalization of the Comprehensive Economic Partnership Agreement (CEPA), a new trade agreement designed to reduce or eliminate tariffs and streamline customs procedures. The agreement is expected to take effect later this year or in 2027.
Exports also grew, though less significantly, to India (1.8 percent) and the United Kingdom (2.3 percent).
Earlier, it was reported that on May 11 the European Council had adopted a decision “terminating the partial suspension of the Cooperation Agreement between the European Economic Community and the Syrian Arab Republic.”
