US firms in Europe fear worsening relations as Trump arrives
FILE PHOTO: An item in support of U.S. President-elect Donald Trump is displayed at a souvenir stall, ahead of the presidential inauguration, in Washington, U.S., January 18, 2025. REUTERS/Mike Segar/File Photo
BRUSSELS : Nine out of 10 U.S. firms operating in Europe believe transatlantic economic relations will worsen in coming years, with the expected policies of incoming U.S. President Donald Trump such as tariffs the chief cause, according to a survey published on Monday.
The American Chamber of Commerce to the European Union (AmCham EU), which has more than 160 members including Apple, Goldman Sachs, Meta and Visa, said its survey showed two-thirds expected U.S. policies to harm their operations in Europe in the coming years.
Some 52 per cent said they expected a negative impact from EU policies.
The survey, carried out among 58 U.S-controlled members between Jan. 6 and 14, showed that 84 per cent ranked tariffs and trade policy as a top priority for transatlantic cooperation, followed by supply-chain resilience and the energy transition.
A vast majority of the companies said Europe was critical to their operations and called for the EU and U.S. to combine to reduce regulations, lower trade barriers and increase regulatory cooperation.
Three-quarters of the surveyed companies said they were "very" or "extremely" supportive of the Paris climate agreement, from which Trump is expected to withdraw. Only 2 per cent were not supportive.
