According to the EU Commission, the implementation of the customs increases announced by US President Donald Trump would have drastic effects on transatlantic trade. If tariffs came into force in the amount of 30 percent or more, it would be almost impossible to continue trading in the usual form, said EU trade commissioner Maros Sefcovic at the edge of a ministerial meeting in Brussels.
It can then be expected with considerable negative effects on both sides of the Atlantic. “Let’s be honest: a 30 percent duty rate would be a factual ban on trading,” said Sefcovic.
The EU trade commissioner emphasized that he would continue the dialogue with the United States in order to get a negotiation solution by August 1. This is the date for which Trump has announced the entry into force of a 30 percent customs to imports from the EU.
If there is no agreement, the EU wants to react with counter -tariffs. Trump has already announced that it would then also open it on his own tariffs.
Trump complains of trade deficit
The Republican justifies his customs policy in particular with the US trade deficit. According to the latest figures from the Eurostat statistics office, the EU actually recorded a significant surplus of around 198 billion euros in the 2024 goods trade in 2024.
In the service sector, however, the EU has a trade deficit with the United States, so that it claims to have only a surplus of around 50 billion euros in the overall balance.
In 2024, the entire transatlantic trade in goods and services was around 1.7 trillion euros according to EU numbers. The European Union and the United States recently had the most comprehensive bilateral trade and investment relationships in the world.