The sharp decline comes amid ongoing tariff tensions and follows a US Supreme Court ruling that declared Washington’s trade measures illegal
BRUSSELS — The European Union’s goods trade surplus with the United States fell by more than 50% in February 2026 compared to the same month last year, dropping from €23.4 billion to just €10.6 billion, according to data released Friday by Eurostat, the EU’s statistical office.
The period coincides with tariffs that Washington began imposing in April 2025 on most countries around the world. Brussels negotiated throughout the summer to set them at 15% on the majority of EU products — tariffs that the US Supreme Court has since declared illegal.
EU-China Deficit Widens
In contrast, the EU’s trade deficit with China widened in February compared to the same month a year earlier, rising from €26.2 billion to €30.3 billion.
On a global scale, the EU’s overall surplus with the rest of the world also fell by more than 60%, from €22.9 billion to €9.1 billion.
Extra-EU exports fell by 9.3% to €204.7 billion, while imports dropped by 3.5% to €195.7 billion.
Chemicals and Machinery Drive the Decline
The drop in the surplus was mainly driven by the chemical and related products sector, whose surplus fell from €28.7 billion in February 2025 to €14.8 billion in February 2026.
The machinery and vehicles sector also recorded a reduction in its surplus, which fell from €18.9 billion to €11.5 billion over the same period.
Meanwhile, the energy sector continued to reduce its deficit, falling from €27.6 billion in February 2025 to €22.1 billion in February 2026.
Eurozone Data Tells a Similar Story
The eurozone’s goods trade surplus with the rest of the world also shrank, from €23.1 billion in February 2025 to €11.5 billion in February of this year.
Eurozone exports fell by 6.7% to €232.4 billion, while imports stood at €220.9 billion, a decrease of 2.2%.
By sector, chemicals saw its surplus fall from €30.4 billion in February 2025 to €16.2 billion in February 2026. Machinery and vehicles also suffered a decline, with its surplus dropping from €14.2 billion to €10.2 billion. The energy sector again narrowed its deficit, from €25.2 billion to €20 billion.
Intra-EU Trade Shows Growth
Trade in goods among EU member states increased by 1.7%, rising from €337.9 billion in February 2025 to €343.8 billion in February of this year. Trade among eurozone countries also edged up 0.4%, from €218.9 billion to €219.7 billion.
