Trade · 2025-01-01
The U.S. trade deficit with the EU was $350 billion
False
Trump described the U.S. trade deficit with the European Union as approximately $350 billion.
What the evidence shows
The 2024 U.S. goods-and-services trade deficit with the EU was about $148.4 billion; focusing only on merchandise trade distorts the overall bilateral balance.
What happened next
Assessment reflects the cited reporting and data available at the time; check for subsequent revisions.
Assessment notes
Editorial paraphrase, not a verbatim quote. Assessment concerns the narrow claim stated here. Where an exact speech date is not established, the date is an approximate month placeholder.