Europe’s trade problem is not industrial collapse.
In 2025, the EU still ran a €128B goods trade surplus. Without energy dependence, Europe’s goods surplus would be roughly €427B.
The U.S. is the opposite with a massive structural goods deficit — around $1.2T in 2025.
Europe still exports machinery, vehicles, chemicals, pharmaceuticals and industrial goods at scale.
Its weakness is dependence: imported oil, gas and LNG
Europe does not need America’s deficit model.
Europe needs to keep investing heavily in renewables, storage, cross-border grids, nuclear and hydrogen to reduce energy dependence