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 Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam