What is American cheese in other countries
Photo galleryThese are the most important imported goods from the USA
A new trade agreement between the USA and the EU aims to increase the proportion of American beef supplied to 35,000 tons by 2026. If meat consumption remains unchanged until then, three quarters of beef imports to Europe could come from US producers. According to estimates, the new quota could mean an increase of 377 million euros for the USA. The value of US beef imports would have more than doubled.
The agreement is seen as a concession to the USA in order to prevent the threatened punitive tariffs on European car imports. For similar reasons, the EU has also been importing more soy and liquefied petroleum gas since July 2018. The result: By May 2019, the import volume for US liquefied natural gas rose by 272 percent and that for soybeans by 121 percent. A decision on US punitive tariffs on European car imports is still pending - and should not be made until November.
Most important trading partner despite disputes
Time and again in the past few months there had been a crisis between Europe and its transatlantic partner. The reason is the high export surplus of EU goods, which recently reached a new high of 139 billion euros. In 2018, the European Union delivered around a fifth of its products to the United States, the world's largest buyer of EU goods.
Despite the disputes, the EU remains one of the most important American trading partners, and according to the US Trade Representative's office, it is even the most important export market. According to Eurostat, around 14 percent of all imported goods came from the United States in 2018. Only China had a higher share at 20 percent. The European community of states imported these US products most frequently, according to statistics from the EU Directorate General for Trade:
These are the main imports of the EU from the USA
# 6 Medical products
With a goods value of 22.6 billion euros, medical and optical devices - including microscopes, lenses and telescopes - account for around 8.5 percent of European imports from the USA. The import of goods has decreased by one percent compared to 2017. The export of devices to the USA, on the other hand, rose by six percent to a value of around 30 billion euros. But this ratio is not an isolated case in many key product categories, the EU sells more to its American trading partners than it purchases itself.
# 5 oil
Oil production in the US has doubled in the last 15 years. The reason for the boom in recent years is a new method of extracting shale oil - so-called fracking. Despite the enormous domestic needs, the United States recently exported two million barrels a day. Oil worth 24 billion euros also goes to the member states of the European Union. Germany in particular increased its US crude oil imports fourfold to 3.9 million tons in 2018. Oil has a share of 8.9 percent of EU imports - and thus ranks fifth.
# 4 vehicles
Vehicle deliveries - including cars, bicycles, motorcycles, but also ships and rail vehicles - accounted for 12.6 percent of all EU imports from the United States in 2018. While the USA alone imports cars worth 50.4 billion euros, the share of European vehicle imports from the USA is 33.7 billion euros. That is enough for fourth place in the ranking of the highest EU imports.
# 3 planes and helicopters
The aviation industry accounts for a significant proportion of all US shipments of goods to the EU. The US Trade Representative's office recorded an import value of 41.4 billion euros for the category in 2018. This includes military aircraft and helicopters. For example, Germany and France ordered the Hercules C-130J military aircraft from the US company Lockhead. In April, however, the EU threatened to impose punitive tariffs on helicopters and planes for private use if the USA imposed new additional tariffs in the subsidy dispute.
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