Transatlantic relations: To help guide us forward, we can look to our past

The rather tumultuous beginning and much of the media coverage of the new US administration has cast a distinct shadow of uncertainty over the future course of the transatlantic relationship. The last few months have seen the publication of vast amounts of commentary on the future of EU-US relations, also precipitated by the fall-out of the ‘Brexit’ referendum results and the impending triggering of Article 50 by the United Kingdom.

It is still far too early to issue any meaningful predictions, but we do have some real certainties, and that is what I want to focus on here:

What is indeed needed in the near future is for the EU and the US to underscore a joint commitment to the historic transatlantic partnership. The last few months may have confused some and may have left others wondering if the future of the transatlantic partnership is in deep trouble. It is not. The resilience of this relationship has been tested over and over again, yet its agility and resolve is durable.  

It is a fact that the EU and the US are intrinsically bound economically, politically and strategically. The transatlantic partnership has served as the cornerstone of our shared prosperity for over a century.

I continue to believe strongly in the power of the EU and US to be actors of meaningful and virtuous development. This will be one of the main drivers of the activity of the American Chamber of Commerce to the EU (AmCham EU) this year – how to promote and strengthen further a transatlantic relationship that delivers growth, stability and security for our businesses and citizens.

All these benefits come from a history of building bridges and sharing knowledge and values.  

Regardless of the political constellations in power on either side of the Atlantic, the prosperity and added value brought by this relationship is undeniable. The transatlantic economy is the largest and deepest economic relationship in the world. Together, the EU and US are responsible for half of the world’s GDP. The trade between the two supports 15 million jobs across the Atlantic.

We, at AmCham EU, remain optimistic going forward, backed also with data from our latest Transatlantic Economy report. Despite the turmoil, the transatlantic economy is picking up steam. The transatlantic gaps in growth and employment which were highlighted in last year’s survey have all narrowed in the past year. So too has the US-EU trade gap.

At a time of renewed uncertainty at home and abroad, it is more important than ever to lift our heads up and see the clear and solid path ahead, rather than look down and ruminate over the individual cracks.