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Opties voor de EU in Amerikaanse heffingenoorlog infographic
Graphic shows bilateral trade and investment
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BUSINESS

Wat staat er op het spel in de heffingenoorlog tussen de VS en de EU?

By Phil Bainbridge

April 7, 2025 - The EU has a range of options already in place for enacting tough countermeasures in the wake of President Donald Trump’s sweeping tariffs, which could include trade, investment or funding restrictions,

Bilateral trade between the EU and U.S. amounted to some €1.6 trillion in 2023, with goods accounting for €851 billion - €503bn in exports and €347bn in imports - while services made of €746bn of that, €319bn exports and €427bn. Europe ran a goods trade surplus of around €157bn but a services deficit of €109bn.

Given the value of U.S. service exports to Europe, rather than using tariffs on a range of goods as Trump has done, some EU politicians have been calling for a greater focus on the use of instruments already in place to bring the U.S. to the negotiating table: the Digital Services Act, which is designed to tax Big Tech on profits made in the location of the consumer, and the International Procurement Instrument which could be used to bar U.S. companies’ access to EU public contracts, worth up to $2.8 trillion each year. French President Macron has suggested suspending EU investment into the U.S. until the situation is “clarified”.

As a last resort, the EU’s “nuclear option”, the Anti-Coercion Instrument could be brought into play, which would allow retaliatory measures if a third country attempts to coerce the EU or member states. This could be used to block foreign investment, restrict market access for financial services - hitting Wall St – or revoke Intellectual Property protection, but is opposed by some key EU members who fear it would trigger a full trade war, with damgaing consequences for both economies.

Sources
PUBLISHED: 07/04/2025; STORY: Graphic News
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