Friends who trade together, stay together. That’s the mantra that seems to increasingly dictate global trading dynamics, to the benefit of the resurgent European economy.
The EU’s trade surplus with the U.S. rose to a record high of €43.6 billion ($47.3 billion) in the first quarter of 2024, official data shows. The 27% jump from the same period last year reflected both an increase in exports to the U.S. and a reduction in imports to the EU.
