After President Donald Trump announced plans to impose a 30% tariff on goods from the European Union from Aug. 1, CNBC's Silvia Amaro takes a look at the numbers behind the trade relationship.

Brussels

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

The United States and the European Union together account for nearly 30 percent of global trade and 43 percent of global GDP. In 2024, trade between the two regions reached approximately 1.7 trillion euros, or 4.6 billion euros daily. The EU maintains a goods trade surplus of nearly 200 billion euros with the U.S., but the U.S. holds a 150 billion dollar surplus in services, resulting in an overall EU surplus of about 50 billion dollars.

Sectors most exposed to new U.S. tariffs include pharmaceuticals, autos, and aircraft machinery, with Germany and Ireland identified as the most affected economies. Almost a quarter of German exports and over a third of Irish exports are destined for the U.S. In response to ongoing trade tensions, the EU has advanced a trade agreement with Indonesia, aiming to diversify its economic partnerships and reduce reliance on U.S. trade.

Deep dive: U.S.-EU trade in numbers

We decided to take a deep dive into the volumes of trade between the two so you get the full context here. Now together the EU and the US make up almost 30 percent of all global trade in goods and services and 43 percent of global GDP. Back in 2024 trade between the two totaled some one point seven trillion euros. That's the equivalent of four point six billion euros per day. But is the EU straight surplus as one sided as the White House suggests. Let's take a look. When it comes to goods to the EU exports some five hundred and thirty billion euros worth to U.S. and imports three hundred and thirty five billion. That's this actually gives it a surplus of nearly 200 billion euros. However as Brussels is quick to point out the U.S. actually leads the way when it comes to services where enjoy. It enjoys a surplus of one hundred and fifty billion dollars. So all in all that gives the EU a total trade surplus of just 50 billion dollars. Finally what are the European industries and countries most exposed to U.S. tariffs. Well by sector it is far and away the pharmaceutical sector followed by autos and aircraft machinery. Looking at the individual economies Germany and Ireland stand out as well as the most exposed. Now almost a quarter of all German exports are destined for the U.S. while for Ireland that figure is more than a third. In an interview on Sunday the German chancellor Frederick Merz was asked about the potential impact of American tariffs on German industry. Listen in. Then that's came. If that were to happen then we could put large parts of our economic policy efforts on the back burner because that would overlay everything and would hit the German export economy to the core. Now the EU struck an agreement to move forward on a trade deal with Indonesia on Sunday after the two sides had struggled to find common ground on the bloc's anti deforestation rules which were incompatible with the trade in some palm oil products from the country. The European Commission said the move marks a decisive milestone toward a comprehensive economic partnership agreement to be concluded by September. So there you go for the evidence of the EU trying to strike deals with other parts of the world amid these trade tensions with the U.S. The commission president was around a lie and put to the agreement in the context of the global trade war. Listen in. The second element is to diversify our trade relationship. So this big and important political agreement on a free trade agreement with Indonesia is today a huge milestone forward and shows that we are looking for new market openness.

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Ukraine Invasion

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Deep dive: U.S.-EU trade in numbers

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