According to the President of the US Chamber of Commerce, the customs dispute between the USA and Europe, Simone Menne, could seriously damage the historical economic relationships. “The announced and expected trade -limited measures on both sides of the Atlantic are threatening to burden companies, undermine trust and to slow down the growth,” said Menne, according to speech, at a transatlantic business conference in Frankfurt. “We fear that additional tariffs could endanger what has been built up for decades.”
The transatlantic economic relationships were among the most important worldwide, said the president of Amcham Germany. In 2024, the trade of goods and services between Germany and the USA was around 253 billion euros, which made the United States the largest trading partner in Germany.
Trade as the foundation of the transatlantic partnership
“Transatlantic trade is not just an economic fact. It is a foundation of our partnership – a source of prosperity, jobs and investments on both sides of the Atlantic.” The goal must remain the long -term reduction in trade restrictions, said Menne at the conference, in which managers, politicians and diplomats took part. Europe should also strengthen its competitiveness and resilience – “but not by turning away from its closest ally,” she said.
EU and the USA struggle to solve the customs dispute
Most recently, the trade dispute between the United States and Europe had worsened. US President Donald Trump surprisingly threatened the EU on Friday with punitive tariffs of 50 percent from June 1st. In the night of Monday, he pushed her open for a good month. Now both sides want to find a solution by July 9th. The EU reserves the right in the event of an escalation.
The customs dispute already leaves traces in the economy, shows a survey among the member companies of the Amcham: for every second company, political uncertainty in the transatlantic economic relationships has a negative impact on its investment plans, and even very negative for a further 14 percent, it said.
