The transatlantic relationship: insights from Washington D.C.

This week, a BusinessEurope delegation led by President Fredrik Persson and Director General Markus J. Beyrer was in Washington D.C. to discuss current challenges in EU–U.S. relations.

During meetings with the EU Mission, the United States Trade Representative, and the U.S. Departments of Commerce and State, as well as with business organisations and companies, the underlying message was that the EU–U.S. Joint Framework Agreement may not be perfect, but it represents the best possible outcome under the current circumstances.

To ensure continued support, it is urgent to find solutions to outstanding issues, particularly those regarding Section 232 tariffs on steel and aluminium. The increasing number of products (derivatives) that are subject to higher than the 15% agreed tariff is not in line with the spirit of the deal.

Similarly, the increasing number of Section 232 investigations falling outside the scope of the Agreement must be addressed.

Businesses want a more stable and predictable transatlantic economy, alongside stronger regulatory cooperation that reduces costs and administrative burdens for companies operating on both sides of the Atlantic. Simplifying rules and cutting administrative burdens is a common objective that should benefit European and US companies equally. The Joint Framework Agreement can bring greater stability to the transatlantic trade relationship, but both sides must ensure its proper implementation in line with the form and spirit of the deal.