Trade with the European Union Talking about tra
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Posted On: 05/04/2024 6:16:10 AM
Trade with the European Union
Talking about trade policy, Trump said, “The E.U. is very tough with us.
They don’t take our foreign products. They don’t take our cars. We take Mercedes-Benz and Volkswagen and BMW. They don’t take our cars.” He said at another point in the interview, “They don’t want anything from us. It’s like a one-way street.”
Facts First: It’s not true either that the European Union won’t take American products in general or won’t accept American cars in particular, though some US exports face EU trade barriers and though US automakers have often had a hard time gaining popularity with European consumers. The US exported about $369 billion in goods to the European Union in 2023 (while importing about $577 billion from the EU that year), federal figures show. According to a December 2023 report from the European Automobile Manufacturers’ Association, the EU is the second-largest market for US vehicle exports — importing 271,476 US vehicles in 2022, valued at nearly 9 billion euro.
Talking about trade policy, Trump said, “The E.U. is very tough with us.
They don’t take our foreign products. They don’t take our cars. We take Mercedes-Benz and Volkswagen and BMW. They don’t take our cars.” He said at another point in the interview, “They don’t want anything from us. It’s like a one-way street.”
Facts First: It’s not true either that the European Union won’t take American products in general or won’t accept American cars in particular, though some US exports face EU trade barriers and though US automakers have often had a hard time gaining popularity with European consumers. The US exported about $369 billion in goods to the European Union in 2023 (while importing about $577 billion from the EU that year), federal figures show. According to a December 2023 report from the European Automobile Manufacturers’ Association, the EU is the second-largest market for US vehicle exports — importing 271,476 US vehicles in 2022, valued at nearly 9 billion euro.
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