Trade in goods between the European Union and the U.S. reached a record €875 billion ($1.00 trillion) last year despite tariffs, but the figures mask significant economic damage, notably to Germany's auto sector, a study published on Friday found. The research by the German Economic Institute, or IW, found a 7.7% rise in EU exports to the U.S. to €580 billion, while U.S. imports into the EU climbed 2.2% to €295 billion, pushing the EU's trade surplus to nearly €285 billion. The report attributed some of the increase to front-loading of exports ahead of tariffs that took effect in April and said European manufacturing had suffered.
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