The fall and partial rise of EU-US trading relations
Head of Customs Advisory, Deloitte Ireland, Ireland
Published 13 Nov 2021
Topic spotlight
In spite of recent challenges, the EU-US trading relationship is underpinned by deeply integrated economies. The European Commission website describes this relationship as defining world trade and contributing as much as 40% to world GDP. Despite both the EU and the USA being modern developed economies, competition for global market share in addition societal changes brought about by an increase in globalisation has influenced trade policy. This has been particularly evident during the Trump presidency. This article tracks this difficult spell that we look to be emerging from and looks forward to what is hoped will be a détente in trade tensions between the two trading powerhouses on either side of the Atlantic Ocean.
