To be sure, the United States has a perpetual trade deficit. In 2016, the country imported over $500 billion more in goods and services than it exported, and the United States has not had a surplus since 1975. Yet focusing solely on a country’s trade balance provides a sharply limited view of its economic health.
In 2015, the total value of US goods and services trade with the EU (27) reached $869.5 billion. The United States had $589.7 billion in total bilateral goods trade with the EU (27), its second largest goods trade partner. US trade in services (exports and imports) with the EU (27) was $279.8 billion.