The American Chamber of Commerce in the EU (AmCham) warns that a growing trade dispute between the parties could threaten transatlantic business worth $9.5 billion (DKK 66.3 billion) annually. According to AmCham, trade in goods and services alone amounted to $2 billion (DKK 14 billion) last year. This is reported by the German Spiegel.
- Most American and European investments go to each other and not to cheaper growth markets, says AmCham EU CEO Daniel Hamilton.
According to AmCham, the turnover of American subsidiaries in Europe exceeds the total American export revenue from the continent by a factor of four, while European companies' turnover in the United States is three times higher than their exports there.
- The trade conflict will not only affect trade, but will have far-reaching consequences in all areas, says Daniel Hamilton, CEO of AmCham EU.
The conflict has escalated after the US imposed tariffs on steel and aluminium last week. The EU has announced possible countermeasures, which has led President Donald Trump to threaten a 200 per cent tariff on European wine and spirits.
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