The dependence of US imports on the EU about the increase, beyond China, the study found

The United States depends more on imports from the European Union than those assumed to be generally assumed, with blocks beyond China in total value and the number of goods, according to a study of the German IW Economic Institute.

The dependency has grown significantly over the past 15 years, with the number of product groups where at least 50% of imports came from the EU rising to more than 3,100 years ago, from more than 2,600 in 2010, according to IW.

The finding shows that the European Union Commission President Ursula von der Leyen could have a stronger hand in the tariff talks with Washington which caused a 15% elementary level of the EU items, he said.

The total import value of these items – which includes chemical products, electricity machines and equipment – reaching $ 287 billion, almost 2.5 times more than 2010.

In comparison, China last year contributed 2,925 from the product group, with a total value of $ 247 billion.

US dependence in China has decreased significantly from time to time in a clear risk process, said IW.

EU products with high imported stocks consistently tend to be difficult to replace in the short term, factors that must be remembered by blocks if trade tension increases, said IW.

As a last choice, the EU can target important goods for the US economy for export restrictions, said the Institute.

While trade data alone cannot fully capture how important these items are for us buyers, this research “can be used to clarify Americans that if they continue to raise the tariff, they will shoot themselves”, said colleague of the author Samina Sultan.
Source: Reuters