Global Trade Slowdown Evident as EU US Figures Show

Trade between the European Union and the United States fell last year for the first time since 2013, estimates of the EU statistics agency showed on Wednesday, in line with a general drop in global trade.

The data come as talks for an ambitious EU-U.S. trade deal have been frozen and calls for protectionist measures are growing louder, especially from the U.S. President Donald Trump.

Eurostat said EU exports of goods to the U.S. dropped by 2 percent in 2016 compared to the previous year. Imports from the U.S. also fell by 1 percent.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.