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EU-US announcement puts transatlantic relations back on positive track
On Wednesday 25 July, European Commission President Juncker and United States President Trump announced the EU and the US would start negotiations to develop a positive transatlantic trade agenda, focused on removing industrial tariffs, energy, standards and World Trade Organization (WTO) reform.
The American Chamber of Commerce to the EU (AmCham EU) is encouraged by both leaders’ efforts to reduce tensions across the Atlantic and supports any move that will normalise trade relations.
The Presidents’ announcement underlines a clear commitment to a joint partnership at the highest political level; which is bound to have an economic impact. A strong EU-US relationship is critical to jobs, growth and security on both sides of the Atlantic. The EU and the US are each other’s strongest allies and should be working together to solve some of the world’s largest economic challenges, so we are relieved to see that no further tariffs will be enacted.
Creating new trade barriers helps no one. It would further destabilise global trade and hurt our economies.
Yesterday’s announcement puts transatlantic relations back on a positive track.
For more information, please contact Thibaut L’Ortye (TLO@amchameu.eu).