The United States and the European Union have reached a trade deal that includes a 15% tariff ceiling on most EU goods entering the US, while also eliminating tariffs on certain US goods entering the EU. The EU has also committed to purchasing $750 billion in US energy products over three years and investing $600 billion in various US sectors by 2029. This deal aims to reduce trade barriers and promote fair competition.
• The EU imported roughly €375 billion worth of energy products from the rest of the world in 2024, which is approximately $430 billion USD. This includes fossil fuels, nuclear fuel, and other energy-related products.
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In 2023, the EU's energy import bill averaged around €400 billion, which is equivalent to approximately $435 billion at the current exchange rate. While most energy imports are paid in euros, a significant portion, around 85%, is ultimately converted to and paid in US dollars, according to Energy Europa