Transatlantic Trade Tensions and Hopes for Stability Amid New Deal
Nearly half of U.S. companies in Europe anticipate worsening economic relations with the EU, a significant decrease from prior surveys. The July trade deal, although positively viewed, still sees many companies concerned over underlying policy issues. Reducing tariffs and addressing non-tariff barriers are top priorities.
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Despite improved sentiment from past surveys, nearly half of U.S. firms operating in Europe foresee deteriorating economic ties with the EU. This pessimistic outlook, however, represents a stark improvement from earlier data.
A recent trade agreement reached in July, which removes most EU duties on U.S. goods while retaining some U.S. tariffs on EU products, has been positively received, according to the American Chamber of Commerce to the European Union (AmCham EU).
Nevertheless, businesses continue to express concern over Washington and Brussels' policies, with 60% and 56% of companies anticipating negative impacts respectively. Reducing tariffs and addressing non-tariff barriers such as EU deforestation rules are among the key priorities.
(With inputs from agencies.)
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