News

EU and US leaders reset the transatlantic relationship

The American Chamber of Commerce to the EU (AmCham EU) warmly welcomes the announcement made on Friday, 5 March by President von der Leyen and President Biden to suspend punitive tariffs imposed in the WTO aircraft subsidies dispute. The four-month grace period will give time to negotiators to find a commonly-agreed permanent solution to the dispute on permissible aircraft subsidies.

AmCham EU publishes position on Digital Operational Resilience Act (DORA)

The use of technology in financial services is not new. In fact, the financial services industry has always been at the forefront of testing and adopting new technologies to transform the financial services industry, increase competition and efficiency, as well as offering new solutions to its customers. What is new is the speed of innovation we are seeing in recent years covering all aspects of the financial services sector and leading to the development of new business models, services and products.

Amongst these new developments is the use of information and communications technology (ICT), which finds itself at continuously greater use in the sphere of finance, requiring greater security resilience for firms. The Digital Operational Resilience Act (DORA) represents thus a crucial step towards a harmonized EU framework for digital resilience in financial operations. Due to the unique factors coming together in the financial services sector, given its fast evolution, increased diversification and international nature, additional care needs to be taken into consideration in the adoption of the new proposed regulation. Read our position here.

EU-US trade relations under the new Biden Administration: What can the Portuguese Presidency do?

On Thursday, 25 February, AmCham EU and AmCham Portugal together hosted the inaugural Portuguese Presidency series event on EU-US trade relations under the new Biden administration. The panel featured Marjorie Chorlins, Senior Vice-President, European Affairs, US Chamber of Commerce; Tim Figures, Associate Director, Boston Consulting Group; Rupert Schlegelmilch, Director, Directorate-General for Trade, European Commission; and Florian Wastl, Director Public Affairs Europe, Mars and Vice-Chair, Trade and External Affairs Committee, AmCham EU. The discussion was moderated by Roger Coelho, Senior Policy Director, AmCham EU and focused on the prospects for greater transatlantic alignment on trade issues and the role of the presidency in rekindling the relationship in the face of global challenges.

A new industrial strategy for the EU

Industry is a vital sector for the European economy. The EU needs a comprehensive industrial strategy in order to improve the global competitiveness of the region. In light of the ongoing COVID-19 crisis, automatisation of processes, the changing context of the job market and the growing importance of environmental concerns, as well as the uncertain geopolitical outlook, AmCham EU outlines four priorities for a new EU industrial strategy. These priorities include digitising European industry: fostering innovation in people, technologies and processes; creating the right environment for a clean future; accelerating the EU circular economy; reinforcing the rules-based trading system and reinvigorating the transatlantic partnership.

The US rejoins the Paris Agreement

On Friday 19 February, the United States formally rejoined the Paris Agreement. AmCham EU supports the decision President Biden took on his first day in office. It signals his Administration’s intent to tackle climate change through a global framework that engages all players.

In an interview with Euronews, Susan Danger, CEO, AmCham EU, highlighted the important role of business in advancing the objectives of the Paris Agreement. She emphasised the need for a stable and predictable framework for investments. American companies are already researching, developing and investing in low-carbon technologies to reduce their own carbon footprint, but also to provide solutions to other businesses and society as a whole. Watch the segment available in multiple languages here.

Dr Ngozi Okonjo-Iweala’s appointment makes history at WTO

AmCham EU congratulates Dr Ngozi Okonjo-Iweala on being appointed Director-General of the World Trade Organization (WTO) on Monday, 15 February 2021. Her appointment is historic, as she is the first female and the first African to take up the role. Dr Okonjo-Iweala’s mandate begins at a time of many challenges for the organisation, with its negotiation and arbitration mechanisms increasingly called into question. The confirmation of Dr Okonjo-Iweala as Director-General is an important first step in overcoming these challenges. Her track record in the Nigerian government and the World Bank, coupled with her reformist agenda, speak to her credentials to set in motion a modernising programme that can make the WTO fit for the 21st century. Her role must now be to seek consensus for reform across the breadth of the WTO’s member countries.

Uniting for diversity: ‘belonging’ for gender and disability equality

Virgin Media, a Liberty Global brand, is diversifying its workforce and supporting inclusion of every voice through its ‘belonging’ initiative. As part of the company’s work to create an inclusive culture, the company set up a partnership with disability charity Scope to support a million disabled people to get and stay in work. Check out our video with Bill Myers, Managing Director for Communications, Liberty Global, to learn more about the company’s contribution to a more inclusive society.

AmCham EU stands in solidarity with the European Commission’s Beating Cancer Plan

Cancer is the second leading cause of death worldwide. In Europe, 2.6 million people are diagnosed with cancer every year, with nearly half of that number succumbing to the disease. If decisive action is not taken, then by 2035, approximately 40% of Europeans can expect to face cancer in their lifetime.

On this year’s World Cancer Day, AmCham EU stands in solidarity with the European Commission’s Beating Cancer Plan. Several of our member companies directly contribute to the fight against cancer providing innovative solutions in the form of cancer treatments or developing the medical devices used in cancer diagnosis.

Uniting for diversity: reverse mentoring to promote creativity and innovation

Baxter’s reverse mentoring programme pairs junior employees with senior professionals in order to share insights, experiences and differences in a productive way. By giving junior employees the forum to share their expertise with senior leaders, reverse mentoring supports the needs of early career professionals. Check out our video with Sara Rico, EMEA Digital Health Project Leader, Baxter International, to learn more about the company’s contribution to a more inclusive society.