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Tariffs

The confirmation of the 9 July deadline for EU-US trade negotiations, following a call between President Trump and President von der Leyen, prevents further escalation of trade tensions. The continued talks give room for the EU and the US to reach a deal.

Past statements

 

3 April 2025: Reciprocal tariffs: AmCham EU urges de-escalation in tit-for-tat dispute 

The US administration announced the imposition of a 20% tariff on most imports from the EU. In response, the EU indicated it is preparing for further countermeasures if no negotiated solution is found. AmCham EU is concerned that these measures will create damaging ripple effects across all sectors of the economy. Tariffs are harmful taxes on imports that increase costs for consumers and businesses. The associated financial impact and supply chain disruptions for a broad range of industries will be widespread and are simply too difficult to assess. The rapid imposition of the tariffs adds to the overall uncertainty, leaving close to no time for companies and officials to adjust. (full statement)

 

11 February 2025: American business in Europe remains opposed to US steel and aluminium tariffs 

President Trump has announced his decision to impose 25% tariffs on all US steel and aluminium imports, which will target the EU directly. This is a decision that the AmCham EU opposed in 2018 and opposes again today. US tariffs on EU imports of steel and aluminium will have a wide-reaching and overwhelmingly negative impact on jobs, prosperity and security on both sides of the Atlantic. The damage will extend beyond just the steel and aluminium sectors, impacting all businesses that rely on these materials throughout the supply chain. (full statement)   

12 March 2025: US steel and aluminium tariffs: American business in Europe responds 

The US administration has imposed tariffs on steel and aluminium, including EU imports. In response, Malte Lohan, CEO, AmCham EU, expressed the opposition of American business in Europe to the decision, stating: ‘The US administration’s new steel and aluminium tariffs are not the same as those imposed in 2018. They are more stringent and cover a range of downstream products, meaning their impact will be harsher and affect even more sectors.’ (full statement) 

 

 

 

3 February 2025: US business in Europe cautions against potential EU-US trade tit-for-tat 

The US administration is moving forward with the implementation of 25% tariffs on Canada and Mexico and 10% on China. This decision has sparked concerns from the business community around the world. The US Chamber of Commerce has highlighted why these ‘unprecedented’ tariffs are not the answer to the problems the administration seeks to address as well as the associated economic risks (full statement).    

Transatlantic trade by the numbers 

  • EU-US goods trade reached a record high of €858 billion in 2024, 60% higher than US-China goods trade (€512 billion) and 20% higher than EU-China goods trade (€691 billion). 
  • The United States and the European Union are the two largest traders of services in the world. They are each other’s most important services trading partners and services markets.  
  • EU-US services trade totalled an estimated €418 billion in 2024, comprised of U.S. services exports of €242 billion and services imports of €176 billion. 
  • In 2023, nearly two-thirds (64%) of US imports from the EU+UK consisted of intra-firm trade. Meanwhile, 41% of US exports to the EU+UK in 2023 represented intra-firm trade. 
  • The EU’s effectively applied tariffs on goods from the US is 3.95%; the US tariff on EU products is 3.5%. 
  • The EU is strategically dependent on the US for eight products; the US relies on the EU for 32 strategically important import products. 

Source: The Transatlantic Economy 2025; currency figures converted from US dollars to Euros as of April 2025. 

In the United States, the US Chamber of Commerce have similarly spoken out against tariffs. Read more in the following statements: