Internal barriers within Europe cost the EU economy around 1,700 billion euros annually, more than total trade between Europe and the United States.

Omissions

• No IMF source was found that explicitly states a cost of €1,700 billion annually for internal EU barriers. The IMF's published estimates are expressed as tariff-equivalent percentages (44% for goods, 110% for services), not in absolute euro terms.
• The comparison to total EU–US trade — which stood at approximately €1.6 trillion in goods and services in 2023–2024 — cannot be assessed without first verifying the €1,700 billion baseline.
• All four web searches reached the limit before a definitive IMF source containing the exact figure could be located or ruled out. Two independent sources or one primary source confirming the claim could not be found.

Sources

• PrimaryIMF — Europe's Choice: Policies for Growth and ResilienceIntra-EU trade barriers remain significant. Our estimates suggest that these barriers might be as high as a tariff equivalent of about 44% for goods and 110% for services. No euro-denominated annual cost figure (€1,700 billion) appears in this source.
• PrimaryIMF Finance & Development — Europe's Integration ImperativeHigh trade barriers within Europe are equivalent to an ad valorem cost of 44 percent for manufactured goods and 110 percent for services, IMF research shows. No €1,700 billion figure is cited.
• PrimaryGovernment of Canada — EU-Canada Joint StudyThe total EU value of goods and services amounts to some 16% of gross domestic product (GDP) (or €1,700 billion). This refers to total EU economic value in a Canada trade context, NOT the cost of internal EU barriers.