Barry Andrews· Renew

Confirmed

According to a recent IMF report, the EU imposes a 110% tariff equivalent on itself by not completing the single market for services.

Omissions

• The same IMF report also states that barriers on goods are equivalent to a 44% tariff, which provides important context for comparison.
• The claim correctly attributes the figure to the IMF, but it would be more precise to specify that this refers to the December 2024 'Europe's Choice' report or the 2024 Article IV consultations.

Sources

• PrimaryIMF - Europe's Choice: Policies for Growth and ResilienceFor services, these estimates barriers are even steeper, equivalent to a 110 percent tariff.
• PrimaryIMF Euro Area Policies: 2025 Annual ConsultationStaff analysis estimates that these barriers are equivalent on average to a 44 percent tariff on goods and 110 percent on services.
• SecondaryECB Economic Bulletin Issue 8, 2025IMF (2024) estimates a tariff equivalent of around 110% for services.