Trump wants to put a 50% tax on goods the U.S. imports from the EU
People were mostly worried about trade with China, but actually, the U.S. buys 50% more from the EU than from China.
In 2024, the U.S. imported:
$600 billion from the EU
$400 billion from China
So if Trump follows through, this could have a big impact in my opinion
Trade deficit does not look as bad though, slightly smaller than China.
2024 trade deficit stats:
EU 🇪🇺 – $235B
China 🇨🇳– $270B
If the EU responds strong, this can have as big of an impact on stocks and crypto as the China US situation.
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