(Reuters) -U.S. President Donald Trump on Friday once again threatened to ramp up his trade war, recommending a 50% tariff on European Union goods starting June 1, sending European stocks tumbling.
The United States was the trading bloc’s biggest export partner in 2024, making up 20.6% of exports, according to Eurostat.
Medicinal and pharmaceutical products were the EU’s most exported group to the U.S in 2024, followed by motor vehicles and aircrafts and associated equipment, according to the data.
The three largest exporters to the United States in the EU were Germany, which exported 161 billion euros ($182.62 billion) worth of goods, Ireland, at 72 billion euros, and Italy, at 65 billion euros.
Below is an overview of the biggest EU exports to the U.S. by sector:
MEDICATION AND PHARMACEUTICALS
The EU exported around 120 billion euros worth of pharmaceutical products and medicaments to the U.S in 2024, according to Eurostat data.
Although the Trump Administration initially spared pharmaceutical products from reciprocal tariffs on “Liberation Day”, it was not immediately clear if the industry would continue to be shielded from them after Trump’s statement on Friday.
Some of the EU’s top pharmaceutical companies are
– Novo Nordisk
– Bayer
– Roche
– Novartis
AUTOMAKERS
The U.S. was the second largest market for EU car exports accounting for 22% of EU vehicle exports in 2024 in terms of value, according to figures from auto industry group ACEA.
Automakers including Mercedes-Benz, Stellantis and Volvo Cars have pulled their 2025 financial guidance, citing the uncertainty caused by U.S. trade policy.
German Volkswagen Group is highly exposed to the tariffs, as its premium brand Audi does not manufacture in the U.S., though it has said it plans to announce a location to build some of its top-selling models in the market this year.
AIRCRAFT AND AIRCRAFT EQUIPMENT
Toulouse-based Airbus is France’s second-biggest exporter and delivers some 12% of its jets to the United States, some of which are assembled locally, according to Cirium data.
Among the biggest supplier to Airbus and Boeing is CFM International, the world’s largest engine maker by volume, co-owned by France’s Safran, and GE Aerospace.
ENGINES, MOTORS AND MOTOR VEHICLE PARTS
Alongside cars and planes, the European Union also delivers a lot of car parts and engines into the U.S. Companies potentially affected by tariffs could include MTU Aero Engines, which besides manufacturing military aircraft engines also repairs and maintains commercial engines.
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