Today the European Parliament adopted its negotiating position on proposals to reduce tariffs on certain imports from the United States, in line with the July 2025 EU-US Framework Agreement. The Parliament’s vote clears the way for trilogues to finalise these proposals.

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.’ 

On Tuesday, 24 March, AmCham EU hosted Leopoldo Rubinacci, Deputy Director-General, Directorate-General for Trade, European Commission, to discuss the changing landscape of transatlantic trade in a context of rising protectionism and uncertainty. The meeting was timely as Transatlantic stakeholders eagerly wait for the European Parliament vote on Thursday, 26 March, on the EU-US Framework Agreement. The discussion also looked at differences in areas such as tariffs, industrial policy and market access, and how these affect businesses operating across the Atlantic. The importance of continued dialogue and cooperation to manage these challenges and avoid further disruption to global trade was also highlighted.

The European Parliament’s International Trade (INTA) Committee vote to approve the Commission’s tariff reduction proposals keeps the implementation of the July 2025 EU-US Framework Agreement on track. This vote was a critical signal that the EU intends to stick to its side of the deal, just as we expect the US to uphold theirs.

AmCham EU now calls for the European Parliament to adopt these proposals in a plenary vote at the earliest possible opportunity. The transatlantic commercial relationship is worth $9.8 trillion, with $6.4 billion in goods and services exchanged between Europe and the US every day. Predictability on the rules and costs of trading across the Atlantic is essential for planning, investment and jobs.

AmCham EU is opposed to broad-based tariffs. We understand MEPs’ caution in a volatile transatlantic political environment and have called for the US administration to provide greater clarity on its tariff policy. However, given political priorities on both sides, we still see the EU-US Framework Agreement as the most realistic path to securing a more constructive EU-US trade and investment climate that helps businesses plan ahead.

Beyond tariffs, the Framework Agreement offers a platform for deeper EU-US cooperation on shared priorities, including critical minerals supply chains, addressing nonmarket practices and strengthening cybersecurity. Today’s vote paves the way for the next phase of that agenda.

Following a year of political and trade tensions between Europe and the United States, commercial ties between the two sides – the deepest and broadest between any two regions in history – have held remarkably strong. In a new study from the American Chamber of Commerce to the EU (AmCham EU) and the US Chamber of Commerce, authors Daniel Hamilton and Joseph Quinlan value the transatlantic economy at a record $9.8 trillion in 2025, up from $9.5 trillion the previous year. This figure comprises an estimated record $2.3 trillion in goods and services trade between Europe and the United States and $7.5 trillion in combined affiliate sales.

On Wednesday, 11 March, the United States Trade Representative launched Section 301 investigations into structural production overcapacity against a range of economies, including the European Union.  We understand that this decision is part of a larger attempt to stabilise the US tariff system in the wake of the Supreme Court ruling striking down the International Emergency Economic Powers Act (IEEPA) tariffs. 

The American Chamber of Commerce to the European Union (AmCham EU) is concerned about the continued uncertainty of the current trade environment. Companies still lack clarity over future tariff rates in both the short- and long-term. We continue to oppose broad-based tariffs as they raise costs for businesses and consumers and disrupt supply chains. 

With potential measures against the EU under consideration, AmCham EU calls on the EU and the US to avoid escalation in the trade dispute. The priority must be to restore stability and predictability in transatlantic trade. The deal struck in the summer is not a perfect solution, but it offers the most realistic path forward given political priorities on both sides. We look to the parties to honour their commitments under the EU-US Framework Agreement. 

The US Administration rightfully identifies overcapacity as a critical issue in the global economy which also affects the European market. We see the EU as part of the solution, rather than the problem. The EU and the US must work together to tackle the real issue at hand: unfair trading practices from non-market economies.  

Business associations have expressed full support for the European Commission’s decision to provisionally apply the EU–Mercosur Interim Trade Agreement. The move marks a decisive step towards implementation after more than 25 years of negotiations. The economic case is compelling. The European Commission estimates indicate that, once fully implemented, the Agreement could increase EU exports to Mercosur by nearly 40%, generating €48.7 billion in additional annual exports and €77.6 billion in annual EU GDP gains by 2040. At the same time, prolonged delays have carried significant costs for European competitiveness. Swift operationalisation of the Agreement will enhance market access, diversify trade relationships and reinforce the EU’s leadership in sustainable, rules-based trade.