What exactly is ‘single’ about a market where the same product needs different national markings, a cyber incident can require dozens of reports and a professional qualification may stop being recognised at the border?

These examples come from different sectors, but they point to the same contradiction. The EU creates common rules, yet companies still encounter national requirements that divide Europe into separate markets in practice.

The stakes are high for American companies invested in Europe. The United States is the largest single source of inward foreign direct investment (FDI) into the EU. In 2025, American companies invested more in Europe (53%) than they did the rest of the world combined. This has been the case for decades. Much of this appeal lies in the promise of a large, prosperous Single Market.

Yet there are signs that this position is coming under pressure. While Europe remains the leading destination for US investment, its share of total US outward FDI has fallen to its lowest level in more than four decades. More recent indicators point in the same direction too. EY’s 2026 European Investment Monitor found that 943 US companies invested in Europe last year, 16% below the annual average of 1,124 over the previous five years. To reverse these trends, Europe needs to make itself a more attractive place to invest, beginning with a more integrated Single Market.

That is why the simplification agenda cannot lose steam – in Brussels and national capitals. In her September State of the Union address, European Commission President Ursula von der Leyen highlighted the need for EU-wide coordination. ‘Simplification cannot be a one-way street’, she said. ‘All levels have to have skin in the game’.

As EU leaders check in on progress under the ‘One Europe, One Market’ roadmap at this week’s European Council meeting, they should look closely at how national choices affect companies operating across borders. That means addressing three related but distinct problems: gold-plating, uneven implementation and the national barriers that continue to fragment the Single Market.

After frying frites, bitterballen, churros or arancini, many people don’t think twice about disposing of used cooking oil. Yet one litre of waste oil can contaminate one million litres of water, according to the European Commission. At Cargill’s facility in the port of Ghent, Belgium, used cooking oil and other residual oils and fats are treated as raw materials, cleaned and converted into biodiesel for trucks and ships. This puts circularity into practice on an industrial scale at one of Europe’s largest facilities of its kind. Since production began, Ghent’s biodiesel is estimated to have reduced greenhouse gas emissions by 1,188,000 tonnes compared with fossil diesel, equivalent to taking about 550,000 cars off the road for a year. Read the full story on Invested in Europe.

From Monday, 28 September to Thursday, 1 October 2026, AmCham EU led a delegation of members to Washington, DC to bring the views of the business community to policymakers in Congress and the administration. Discussions showed that both sides value the stability the Turnberry framework agreement brings. While parts of the agreement remain to be implemented, meetings pointed to the possibility for cooperation on economic security. Implementation will continue to need dialogue between the two sides, which is expected to carry on after the mid-term elections.

European preference took centre stage at a Confederation of Swedish Enterprise discussion on Wednesday, 30 September 2026. Dr Kim Watts, Policy Director, AmCham EU, joined Fergus McReynolds, Board Member, British Chamber of Commerce | EU & Belgium, to discuss the Industrial Accelerator Act from the perspective of the EU's closest trade partners. Dr Watts stressed that 'Made in Europe' should reward EU added value, not headquartering, noting American companies employ around 4.6 million people in the EU. She also urged clarity on partner status in the primary legislation, warning that investment plans built on existing EU commitments are otherwise on hold. Learn more in our paper.

At RAID 2026, Thibaut L’Ortye, Chief Policy and Public Affairs Officer, AmCham EU joined a panel discussion on EU-US regulatory approaches to technology. Taking place on Tuesday, 29 September 2026, the discussion explored how transatlantic cooperation can focus on shared outcomes rather than identical rulebooks, including on cybersecurity, AI safety, consumer protection and resilient supply chains. Mr L’Ortye also highlighted the wider conditions needed to strengthen Europe’s competitiveness.

The reform of the Union Customs Code changes who is treated as the ‘importer’ when a non-EU company uses an indirect customs representative. That creates a problem under the EU VAT Directive, which links import VAT deduction to being identified as the importer or consignee. In practice, the non-EU company may no longer meet that requirement, while the customs representative may not qualify for the deduction either.

That could leave import VAT irrecoverable and create uncertainty for businesses using established import models. The Commission should ensure that the non-EU principal can still be identified in customs data for VAT purposes and fix the mismatch between the UCC and the VAT Directive.

Learn more about what changes are needed to keep import VAT deductibility workable under the new customs framework.