EU Trade Surplus With US Hits €199.6 Billion Despite Tariff Volatility
Brussels, Thursday, 26 February 2026.
In 2025, the European Union secured a nearly €200 billion trade surplus with the United States, defying expectations of a tariff-induced slowdown. This resilience was largely driven by a massive volume of pharmaceutical exports and strategic ‘front-loading’ by US businesses racing to beat new levies.
Record Numbers Amidst Uncertainty
According to data released by Eurostat on February 26, 2026, the total trade volume between the two economic giants reached 908.4 billion euros in 2025 [1]. While the European Union’s exports to the United States climbed to €554.0 billion, imports from the U.S. also saw a healthy rise, reaching €354.4 billion [1]. This activity resulted in a trade surplus of €199.6 billion for the EU, a modest increase from the €198.2 billion recorded in 2024 [1][3]. This represents a growth in the surplus of approximately 0.706 percent year-on-year, suggesting that transatlantic trade remained robust despite the looming shadow of protectionist policies [3].
Pharmaceuticals Lead the Charge
A granular look at the trade composition reveals that the exchange of medical goods remains the backbone of the transatlantic economic relationship. In 2025, medicinal and pharmaceutical products were the single most traded category, accounting for 29.0% of all EU exports to the U.S. and 17.0% of all imports from the American market [1]. This sector’s dominance effectively anchored the trade relationship, even as other sectors faced volatility.
The Tariff Effect
The fluctuation in quarterly trade volumes is inextricably linked to the political landscape of 2025. Varg Folkman, a policy analyst at the European Policy Centre, noted that U.S. businesses engaged in significant “front-loading” of orders at the start of the year to preempt tariffs from the administration in Washington [2]. This defensive maneuvering drove up imports from Europe early in the year, distorting the standard seasonal trade flows [2]. By July 2025, the European Commission and the United States had reached a political trade agreement establishing a tariff framework with a 15% ceiling on most European exports, which helped stabilize the regulatory environment [3].