Trump’s fees and the rise of the euro are directing European exports to America
European Union exports to the United States witnessed a remarkable decline in recent months, influenced by the repercussions of the new customs duties imposed by the administration of US President Donald Trump, along with the high value of the euro against the dollar, which reflected negatively on the surplus of the European trade balance. & quot; Euronews & quot; News, the rise in customs duties imposed by Washington, in parallel with the strength of the euro, has increased the prices of European commodities within the American market, which exacerbated the challenges facing trade movement between the two sides during the recent period. 53.7 billion dollars (46.6 billion euros), a decrease of 10% compared to the same period last year. The new fees on April 2. One billion dollars (4 billion euros), compared to 6.2 billion dollars (5.7 billion euros) in July 2024. The past. (79.7 billion euros) in the previous quarter, and 61.9 billion dollars (57.2 billion euros) in the same period in 2024.
Nicolas Nobeel, an economist at the Oxford Economics Foundation, explained that & quot; the 15% customs tariffs in the trade agreement between the United States and the European Union came slightly higher than our expectations in the spring, but it would reduce it to reduce Relatively from the uncertainty in the commercial policies that cast a shadow over expectations during the past months & quot;
He added that the height of the unified European currency (the euro) against the dollar contributed to increasing pressure on European exports, as it made it more expensive for American buyers. Events exceeding 8% compared to its level in July 2024, which gradually reduced the competitiveness of European goods in the American market.
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