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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 Thursday, 12 March, AmCham EU hosted Jovita Neliupšienė, EU Ambassador to the US for a townhall discussion on the outlook for EU–US relations and the evolving economic and geopolitical environment shaping the transatlantic partnership. Moderated by Malte Lohan, CEO, AmCham EU, participants reflected on the importance of maintaining a strong and stable transatlantic relationship that continues to underpin investment, innovation and jobs on both sides of the Atlantic. 

The discussion explored perspectives from Washington on the current state of the partnership, the work of the EU Delegation in engaging US policymakers in Washington, DC and the outlook for transatlantic trade and economic cooperation. Participants also examined how the EU and the US can preserve open investment flows, avoid escalation in trade tensions and work together to address shared challenges such as global overcapacity and supply chain resilience. 

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.