A call to de-escalate transatlantic trade tensions

The proposed tariff hike on EU imports introduces major uncertainty into one of the most stable and integrated trade relationships in the world. The immediate effect — for businesses on both sides of the Atlantic — will be to further chill investment decisions, disrupt essential supply chains and undermine market confidence.

"The transatlantic relationship is not only of immense economic importance — it is, in many ways, the cornerstone of the rules-based global trading system. For decades, EU-U.S. trade has set an important standard for openness, reliability and shared prosperity. A sharp escalation in tariffs between two central pillars of the global economy risks sending shockwaves through the global business community at a time when stability is at an absolute premium."

"We call on the U.S. and EU to redouble ongoing efforts to renew their trade relationship. A swift and coordinated de-escalation is essential to preserve the trust and stability that underpin international commerce, business investment and job creation."