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New EU trade strategy charts positive path
On Thursday 18 February, the European Commission presented its renewed trade strategy. This latest communication charts a positive path for European trade policy, embracing the EU’s leadership role in a changing multipolar world.
The American Chamber of Commerce to the EU (AmCham EU) is confident that the new strategy can be highly effective as its core elements are anchored in the EU’s recovery plan, which seeks to enable the green and digital transformations. AmCham EU fully supports the plan’s vision that, in order to create prosperity, jobs and growth, the EU needs to remain an open, competitive and attractive place for international investment.
American companies in Europe welcome the EU’s focus on the reform of the World Trade Organization (WTO), including a set of concrete proposals. The EU can play a leading role with like-minded partners to strengthen the rules-based and multilateral trading system and address unfair market behaviours.
The strategy also puts a strong emphasis on the EU’s relationship with the United States. The EU and the US should indeed seize the current momentum to refresh, reset and rekindle their relationship. The communication specifically points to the creation of an EU-US Trade and Technology Council, which would create a much welcome forum for cooperation.
For more information about AmCham EU’s position on the EU trade agenda, please click here.