BRUSSELS: Almost half of US firms operating in Europe expect transatlantic economic ties to deteriorate, according to a survey published yesterday, though the outlook marks a notable improvement compared with sentiment at the start of President Donald Trump’s second term.
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% of respondents expected worsening EU-US trade and investment ties, compared with 89% in a similar survey in January.
A third now expect stability after the EU and the US struck a trade deal at the end of July, which is set to remove most EU duties on US goods, while the US imposes 15% import tariffs on most EU products.
AmCham said companies viewed the deal positively, despite criticism in Brussels and EU capitals.
“They view the outcome as having prevented what could have been unprecedented damage to transatlantic trade and investment, even though significant concerns about the broader policy environment still persist,” said AmCham EU CEO Malte Lohan.
A majority of the companies still anticipate a negative impact from Washington and Brussels policies – 60% for the US and 56% for the Euopean Union.
The survey, carried out among 52 US-controlled members between Sept 8 and 16, showed that reducing tariffs was still the number one priority.
The companies also emphasized the importance of tackling non-tariff barriers, including EU regulations on deforestation and supply chain requirements, while calling for deeper cooperation and greater mutual recognition of standards between the two sides. – Reuters