The EU-US Trade Relations Changes During the COVID-19

KRISTÍNA DRIENIKOVÁ – ĽUBICA ZUBAĽOVÁ – MILAN HORVÁTH

Abstract

The article aims to examine the changes in the EU trade relations with the United
States during the COVID-19 pandemic. The pandemic had a significant impact on the
commodity structure of mutual trade in goods, however it did not have a negative effect on
trade in services. The Trade Intensity Index indicates that EU – US trade in goods is below the
potential. The pandemic caused a stagnation in the intensity of trade in goods in 2020, thus
halting the increasing trend before the pandemic. Regarding the intensity of trade in services,
the EU and the US are achieving their trade potential, and the COVID-19 pandemic did not
reverse the growing trend.

Keywords

trade in goods, trade in services, COVID-19 pandemic

DOI

https://doi.org/10.18267/pr.2024.vol.2512.3

 

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