As the 90-day pause on “reciprocal tariffs” continues, European business urges leaders on both sides of the Atlantic to restart and strengthen EU-U.S. trade relations. In its new position paper published today, BusinessEurope emphasises the importance of de-escalating trade tensions and developing a positive, forward-looking Transatlantic agenda.
BusinessEurope President Fredrik Persson said:
“With €1.6 trillion ($1,8 trillion) in annual trade and over €5.3 trillion (around $6 trillion) in mutual investments, the EU-U.S. relationship remains the world’s largest and most deeply integrated economic partnership. However, the escalating trade disputes in recent months threaten to undermine this vital relationship.
The immediate priority must be taking steps to ensure that the Transatlantic relationship succeeds and fulfils its potential as driver for growth on both sides. This includes finding a negotiated solution that avoids a damaging ‘tariff war’, eliminates existing tariffs, and prevents the imposition of new ones from both sides. We should preserve tariff-free arrangements that support our companies in key sectors such as aerospace, spirits, and medical devices.
Furthermore, we should strengthen Transatlantic digital trade by working together on a global solution that prevents customs duties for electronic transmissions. Instead of raising barriers, the EU and the U.S. should work together to reduce costs of doing business, including those stemming from excessive regulatory burden, and to reduce non-tariff barriers such as duplicative testing and excessive administrative procedures.
European business is ready to partner with policymakers to rebuild confidence and deliver tangible results. We propose the creation of a permanent platform for a high-level Transatlantic dialogue. Drawing on lessons from the EU–U.S. Trade and Technology Council, this platform should be more efficient, streamlined, and impact-driven.
The time to act is now, before temporary tensions become permanent divides.”
To read the full BusinessEurope position paper, click here.
