A recent survey reveals that most U.S. companies operating in Europe are concerned about deteriorating transatlantic relations under the incoming presidency of Donald Trump.
The survey, conducted by the American Chamber of Commerce to the European Union (AmCham EU), highlights fears of increased tariffs and protectionist trade policies that could disrupt business operations across Europe.
Key Findings of the Survey
AmCham EU, which represents over 160 members, including industry giants like Apple, Goldman Sachs, Meta, and Visa, surveyed 58 U.S.-controlled companies between January 6 and January 14. The findings paint a concerning picture:
- 90% of respondents believe transatlantic relations will worsen in the coming years.
- Two-thirds expect U.S. policies to negatively impact their European operations.
- 52% foresee challenges stemming from European Union policies as well.
Trade Policy and Tariffs: The Top Concern
A staggering 84% of surveyed companies listed tariffs and trade policies as their top priority for transatlantic cooperation. With Trump’s expected push for higher tariffs and potential protectionist measures, businesses are preparing for increased costs and strained trade dynamics.
In addition to tariffs, other critical concerns include:
- Supply Chain Resilience: The ability to maintain stable supply chains amid geopolitical changes.
- Energy Transition: Adjusting to sustainable energy practices while navigating conflicting policies.
Calls for EU-US Collaboration
Despite these concerns, the survey underscores the importance of Europe to U.S. companies. The majority urged the EU and U.S. governments to work together to:
- Reduce regulations.
- Lower trade barriers.
- Improve regulatory alignment to support business operations.
Support for the Paris Climate Agreement
The survey also found that three-quarters of respondents are “very” or “extremely” supportive of the Paris Climate Agreement, which Trump is expected to withdraw from. Only 2% of the companies expressed disapproval, signaling a clear preference for policies that align with global climate goals.
Looking Ahead
As Trump assumes office, U.S. companies in Europe are bracing for potential policy shifts that may hinder growth and cooperation. However, the call for stronger transatlantic collaboration offers a glimmer of hope for mitigating these challenges. The coming months will test the resilience of U.S.-EU relations and the ability of businesses to adapt to an evolving landscape.
