German trade surplus with US falls in first quarter amid Trump tariffs

Germany's trade surplus with the United States narrowed in the first quarter of the year amid higher tariffs imposed by the Trump administration, official figures showed on Thursday.

The trade surplus in the first quarter of 2026 was €12.4 billion ($14.4 billion), down 30.5% from the previous year, the Federal Statistical Office said. 

The Wiesbaden-based agency said German manufacturers supplied goods worth €36.2 billion to the US in the first three months of this year, a 12.1% decrease from the same period last year. Meanwhile, imports from the US rose by 1.9% to €23.8 billion.

Since his return to office last year, US President Donald Trump has accused Europe of taking advantage of the trans-Atlantic relationship and implemented an aggressive tariff regime.

A deal forged by Trump and European Commission President Ursula von der Leyen placing 15% tariffs on most EU exports to the US is set to be ratified soon, after an agreement was reached in Brussels earlier this week.

Germany, Europe’s largest economy, has recorded annual export surpluses in its trade with the US for more than three decades. 

Berlin last recorded a trade deficit with the United States in 1991. However, the US ceded its position as Germany’s most important trading partner to China last year.