Exports from the European Union\u2019s 27 member states to the United States reportedly dropped 10% year over year in June due to new U.S. tariffs.<\/p>\n
These exports were gauged at \u20ac40 billion in June after having reached a record high of \u20ac72 billion in March when U.S. importers brought in goods from the region ahead of the tariffs, The Wall Street Journal (WSJ) reported<\/a> Monday (Aug. 18), citing data<\/a> from EU statistics agency Eurostat<\/a>.<\/p>\n EU exports to the U.S. fell in April and now stand at their lowest level since the end of 2023, according to the report.<\/p>\n The member states\u2019 exports have also been pressured by a strong euro and widespread uncertainty, the report said.<\/p>\n An agreement reached at the end of July will see a 15% baseline tariff placed on goods imported from the EU to the U.S., though Brussels and Washington are still negotiating parts of the deal, per the report.<\/p>\n It was reported Aug. 12 that European car exporters were wrestling with uncertainty around American tariffs<\/a> despite the trade deal.<\/p>\n Carmakers and others in the industry were awaiting possible last-minute changes, because cars had at first been tariffed at 27.5% and the new 15% rate, which includes vehicles, had not yet been implemented for cars.<\/p>\n Before the 27.5% tariffs kicked in, carmakers had scrambled to ship vehicles to the U.S.<\/p>\n PYMNTS Intelligence\u2019s yearlong \u201cUncertainty Project,\u201d which has turned its attention to the tariff<\/a> issue since President Donald Trump took office, has found that tariffs have impacted consumers, small and medium-sized businesses (SMBs), mid-market companies and chief product officers alike.<\/p>\n For example, the research found that 80% of chief product officers at the largest U.S. companies (those with annual revenues exceeding $10 billion) now anticipate mostly or completely negative impacts from tariffs. This represents a 24-percentage-point increase in pessimism since May, when 56% of CPOs expected similar outcomes.<\/p>\n