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“U.S. goods and services trade with the EU totaled nearly $1.1 trillion in 2016. Exports totaled $501 billion; Imports totaled $592 billion. The U.S. goods and services trade deficit with the EU was $92 billion in 2016.”
While the “U.S. goods trade deficit with the EU was $147 billion in 2016“, “the U.S. services trade surplus with the EU was $55 billion in 2016.” $147 minus $55 is $92.
More than half of this $92 billion trade deficit appears to be caused by German imports ($64.7 billion of US trade deficit), which combined with French imports ($15.6 billion of US trade deficit) accounts for the majority of the deficit.
Even Trump’s father was reportedly “Made in Germany” and born in the USA because his grandparents planned to stay in Germany after the grandfather got rich exploiting the new world. However, the German authorities apparently figured out that grandfather Trump had left to avoid military service and only returned after he was too old for military service. Sadly they didn’t put him in jail, but rather sent him back to NYC to be America’s problem. Trump’s one export Germany can have back, if neither his maternal home of the UK nor Putin will take him.
Trump alleged yesterday that “We’re being taken advantage of by the European Union. We lost $151 billion last year on trade.” Although he may be using 2017 data, rather than the 2016 data given on the government web site, this is apparently the goods deficit only, without the services surplus.
“The U.S. goods and services trade deficit with China was $385 billion in 2016,” that is over four times greater than with the EU: https://ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china
U.S. goods and services trade with the EU totaled nearly $1.1 trillion in 2016. Exports totaled $501 billion; Imports totaled $592 billion. The U.S. goods and services trade deficit with the EU was $92 billion in 2016.
The United States had $686 billion in total (two ways) goods trade with the European Union during 2016, its largest Goods trade partner. Goods exports totaled $270 billion; Goods imports totaled $416 billion. The U.S. goods trade deficit with the EU was $147 billion in 2016.
Trade in services with the EU (exports and imports) totaled an estimated $407 billion in 2016. Services exports were $231 billion; Services imports were $176 billion. The U.S. services trade surplus with the EU was $55 billion in 2016.
According to the Department of Commerce, U.S. exports of Goods and Services to the EU supported an estimated 2.6 million in jobs in 2015 (latest data available) (1.2 million supported by goods exports and 1.4 million supported by services).
* The EU countries, together, would rank 1st as an export market for the United States in 2016.
* U.S. goods exports to the EU in 2016 were $269.6 billion down 0.8% ($2.3 billion) from 2015 but up 27% from 2006. U.S. exports to the EU accounted for 18.6% of overall U.S. goods exports in 2016.
* The five largest country markets were: United Kingdom ($55.3 billion), Germany ($49.4 billion), Netherlands ($39.7 billion), Belgium ($32.1 billion), and France ($31.1 billion).
* The top export categories (2-digit HS) in 2016 were: Aircraft ($38.5 billion), Machinery ($29.4 billion), Pharmaceutical Products ($26.4 billion), Optic and Medical Instruments ($25.6 billion), and Electrical Machinery ($20.8 billion).
* U.S. domestic exports of agricultural products to the EU totaled $11.5 billion in 2016 (total exports of $11.8 billion). The EU countries together would rank 4th as an Ag Export Market for the United States. Leading categories include: tree nuts ($2.6 billion), soybeans ($1.9 billion), wine and beer ($756 million), and prepared food ($579 million),
* U.S. exports of services to the EU were $231.2 billion in 2016, up 1.2% ($4.1 billion) from 2015 and 60% since 2006. Top export sectors were professional and management services ($5 Intellectual property ($50.2 billion), and travel (including education) ($40.4 billion).
* The EU countries together, would rank as the 2nd largest supplier of imports to the United States in 2016.
* U.S. goods imports from the EU totaled $416.4 billion in 2016, down 2.6% ($11.2 billion) from 2015, but up 25% from 2006. U.S. imports from the EU accounted for 19.0% of overall U.S. imports in 2016.
* The five largest country suppliers of imports are: Germany ($114.1 billion), United Kingdom ($54.3 billion), France ($46.7 billion), Ireland ($45.5 billion), and Italy ($45.3 billion).
* The five largest categories in 2016 were: Machinery ($64.9 billion), Pharmaceuticals Products ($55.2 billion), Vehicles ($54.6 billion), Optic and Medical Equipment ($27.5 billion), and Electrical Machinery ($26.8 billion).
* U.S. imports for consumption of agricultural products from EU countries totaled $20.6 billion in 2016 (total imports of $20.7 billion). The EU countries together rank 3rd (to Canada and Mexico) as a supplier of Ag imports to the United States. Leading categories include: wine and beer ($5.7 billion), essential oils ($2.5 billion), snack foods (including chocolate) ($1.5 billion), vegetable oils ($1.3 billion), and processed fruits and vegetables ($1.1 billion).
* U.S. imports of services from the EU were $176.5 billion in 2016, up 1.4% ($2.4 billion) from 2015, and up 35% since 2006. Top import sectors were travel (including education) ($37.0 billion), transport ($33.8 billion), and IPR ($18.9 billion).
* The U.S. goods trade deficit with the EU was $146.8 billion in 2016, a 5.7% decrease ($8.9 billion) over 2015 The U.S. goods trade deficit with the EU accounted for 22.8% of the overall U.S. goods trade deficit in 2016.
* The United States has a services trade surplus of $54.8 billion with the EU in 2016, up 0.8% from 2015.