Nearly half of US firms in Europe expect declining economic ties: Report

Almost half of US companies operating in Europe believe transatlantic economic relations will worsen, although that is a marked improvement from the start of US President Donald Trump's second term, according to a survey published on Friday. 

The American Chamber of Commerce to the European Union (AmCham EU), which has more than 160 members including Apple , Goldman Sachs, Meta Platforms and Visa, said its survey showed 46 per cent of respondents expected worsening EU-US trade and investment ties, compared with 89 per cent in a similar survey in January. 

A third now expect stability after the European Union and the United States struck a trade deal at the end of July, which is set to remove most EU duties on US goods, while the United States imposes 15 per cent import tariffs on most EU products. 

 

AmCham said companies viewed the deal positively, despite criticism in Brussels and EU capitals. 

"They see it as having averted unprecedented damage to transatlantic trade and investment, even as real concerns about the policy environment remain," said AmCham EU CEO Malte Lohan. 

A majority of the companies still anticipate a negative impact from Washington and Brussels policies - 60 per cent for the United States and 56 per cent for the European Union. 

The survey, carried out among 52 US-controlled members between September 8 and 16, showed that reducing tariffs was still the number one priority. 

The companies also stressed the need for addressing non-tariff barriers, such as EU rules on deforestation and supply chains, and stronger cooperation and mutual recognition of standards. 

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