AmChams in Europe: position paper on EU-US Summit - A critical milestone for the global agenda
Leaders of the US and the EU are preparing to meet in person in Brussels on 15 June for the first time since 2014. The community of AmChams in Europe, representing impactful network of companies with operations in Europe, we see the summit as a critical milestone for the global agenda.
For the last century, the transatlantic partnership has been the backbone of the global economy. Consumers and producers, workers and companies, citizens and their governments across the Atlantic and beyond have benefitted from the deep integrative forces that bind the United States and Europe together. By itself, the economic relationship creates 16 million jobs, generates half of total global consumption and accounts for one third of global GDP. However, the previously undisputed leadership of the U.S. and Europe in the international system has become more precarious in recent times, as the tectonic plates of the geopolitical landscape shift. Furthermore, a once-in-a-generation global pandemic, an economic recession and a climate emergency have added to the challenges facing Transatlantic leadership.
In this context, the EU-U.S. Summit taking place on 15 June in Brussels is a critical milestone. Since the Biden Administration took office, we have seen an encouraging new momentum in the transatlantic relationship. The Summit represents an opportunity for these strategic partners to map out a positive, proactive agenda that builds on these encouraging early signs. By identifying substantive areas for cooperation, the EU and the U.S. can ensure that the transatlantic relationship continues to rhyme with prosperity, stability, welfare and leadership. As a business community, we call for the EU and the U.S. to use the Summit to instigate a three-pronged agenda, focused on reducing barriers to trade; ensuring both sides of the Atlantic come out of the pandemic with stronger, more resilient economies; and seeking new areas for convergence and leadership as we transition towards a greener, digitalized international economy.
The U.S. and the EU stand at an important juncture in their history. With courtesy of the AmCham EU, please read the official POSITION PAPER reflecting the fact, that the decisions made by these strategic allies now will have a lasting impact on the future. The upcoming Summit is an opportunity to lay the foundations for the strengthened international cooperation necessary to tackle the societal challenges of our time. The next steps towards ending the pandemic, fostering economic recovery and accelerating the green and digital transitions must now be taken in Brussels, on 15 June.