U.S. and China Compete for EU Trade Leadership Since 2010

In 2023, the European Union's goods trade with the U.S. reached $942 billion, 10% higher than its trade with China at $855 billion. After rapid growth in EU trade with China during the 2000s, the two nations have competed closely for EU trade since the 2010s. In 2023, EU trade with the U.S. remained steady, while trade with China dropped by 11%.