The U.S. Chamber of Commerce, AmCham EU, Johns Hopkins SAIS and the Transatlantic Leadership Network released a report titled “Shaken, Not Stirred,” likening the enduring but strained U.S./Europe trading relationship to the famous James Bond catchphrase. Despite recent policy tensions between Brussels and Washington, the report emphasizes the crucial economic ties between the two regions, describing them as the most deeply integrated in the world.
In 2023, U.S./Europe goods trade reached a record $1.22 trillion, with European countries surpassing China as the largest purchasers of U.S. goods. Additionally, Europe became the leading buyer of U.S. crude oil and liquefied natural gas, while U.S. company affiliates in Europe earned $350 billion and European units in the U.S. made $190 billion.
Bottom line: The report concludes that although globalization is evolving, the relationship between the U.S. and Europe remains resilient and vital.
