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March 20, 2019
The Transatlantic Economy 2019 report from the U.S. Chamber of Commerce and the American Chamber of Commerce to the EU documents the strength of the transatlantic economy, but also warns that accumulating frictions between the United States and Europe are testing the resilience of the world’s largest bilateral commercial relationship.
This report underscores that the economic relationship between the U.S. and Europe remains by far the largest on earth. Transatlantic trade and investment supports 16 million jobs on both sides of the Atlantic and generates close to $5.5 trillion in commercial sales a year and accounts for half of total global personal consumption. Over $3.75 billion in goods and services is traded across the Atlantic every single day. No place in the world has attracted more U.S. foreign direct investment (FDI) than Europe, and Europe remains by far the largest source of investment into the United States.
Research for the report was conducted independently by Daniel Hamilton and Joseph Quinlan for the Foreign Policy Institute at Johns Hopkins University’s School of Advanced International Studies.
The report focuses on the impact of several recent developments including Brexit and the threat of new U.S. Section 232 tariffs on imported autos and potential European countermeasures. The report also features analyses of the benefits of transatlantic trade and investment for all 50 U.S. states and 30 European countries.
The study’s findings will be presented at the U.S. Chamber’s upcoming Transatlantic Business Works Summiton April 8 in Washington, D.C.