Single Market Strategy: a stronger internal market must remain open to global investment
News
22 May 2025
Trade, Transatlantic
Single Market Strategy: a stronger internal market must remain open to global investment

The Single Market Strategy’s plan to introduce broad ‘European preference’ criteria into public procurement risks undermining the openness that has made Europe competitive and attractive to global partners. A thriving Single Market remains the number one driver of foreign investment into Europe, and the new Strategy promises a range of measures to unlock its full potential, making it simpler to do business across the EU. Tackling the ‘Terrible Ten’ market barriers and embracing digital tools, for example, are long overdue.  

However, a simpler Single Market does not need to come at the expense of openness to international investment. American companies are fully integrated into Europe’s economy, employing over 4.6 million people and investing over €3.5 trillion in the region. Many build, hire and innovate in Europe for Europe. A shift toward protectionist procurement policies would discourage continued investment of this kind and undermine choice, competition and innovation for European contracting authorities. A successful Single Market is one that remains open to those who help drive its growth, wherever they come from. 

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Reacting to the vote, Malte Lohan, CEO, AmCham EU, welcomed the Parliament’s decision as a necessary step towards a more predictable transatlantic marketplace: ‘The Parliament today has taken a decision that helps put the EU-US trade and investment relationship back on track. It is the right signal for businesses that have been stuck in limbo over the past year.’

‘AmCham EU opposes broad-based tariffs. However, given political priorities on both sides of the Atlantic, we still see the Framework Agreement as the most realistic route to securing a more constructive EU-US trade and investment climate’, Mr Lohan added. ‘We call on the Parliament and Member States to conclude trilogues swiftly. Once the tariff reductions are approved, the EU and the US can get back to advancing the cooperation the Framework Agreement envisages on a range of areas that benefit European and American businesses alike. We look to both sides to continue honouring their commitments throughout this process.’ 

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