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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.