ERT-Logo-White
  • Focus Areas
    • CFO Platform
    • Competition Policy
    • Competitiveness & Innovation
    • Digital Transformation
    • Energy Transition & Climate Change
    • Jobs, Skills & Impact
    • Trade & Market Access
  • Flagships
    • Benchmarking
    • Innovation Stories
    • Single Market
  • Members
  • Media
  • Podcast
  • About
Trade & Market Access
14 June 2021
  • Trade & Market Access

Joint Statement by ERT & BRT for the EU-US Summit

EU-US Summit: Transatlantic partnership - an opportunity to lead together

This week, the leaders of the United States and the European Union meet in Brussels to forge consensus on a common agenda and boost transatlantic relations to better meet a range of significant challenges facing the world.

The transatlantic economy is the most prosperous intercontinental relationship in the world—generating $5.6 trillion in sales each year and employing around 16 million people on both sides of the Atlantic. The United States and EU together account for a third of the world’s GDP and half of global consumption, and we are each other’s largest market and investment partner. These economic ties have been built on the deeper connections between the United States and Europe built through our shared history, values and objectives.

Accordingly, the importance of the U.S. and EU strategic partnership cannot be overstated and should continue to be a driving force of the international rules-based system to harness market-driven inclusive growth.

As business leaders from Europe and the United States, we come together to underscore our steadfast support for the transatlantic political and economic relationship. Strengthened and prosperous relations between the EU and the United States will determine both our futures. We need to put our partnership to work and redouble efforts to support our citizens, companies, workers, consumers and the multilateral economic system upon which they depend.

Geopolitical uncertainty, the COVID-19 crisis, economic disruptions, technological change, climate change—all of these demand innovative and aligned responses. Acting together, the EU and the United States can contribute to a sustainable global recovery, including the implementation of the Paris Agreement, build a stronger transatlantic economy, shape standards globally, increase resilience in value chains, and strengthen multilateral institutions and the global rules-based system. Joint EU-U.S. leadership is also critical to forging alliances with other like-minded partners to tackle common challenges.

We welcome recent steps taken to address bilateral disputes. We appreciate the renewed efforts to resolve the Boeing-Airbus dispute, and we support the removal of tariffs on steel and aluminium and retaliatory tariffs. We need a multilateral agreement at the OECD on taxation issues that will repeal and prevent disruptive unilateral actions and avoid retaliation and another trade conflict. As companies and consumers crucially rely on international data flows, it is equally important to achieve a sustainable agreement for the transfer of personal data to replace the Privacy Shield.

Continued uncertainty on these issues would undermine business confidence, investments and the creation of jobs and growth, which are dearly needed as we work through the COVID-19 pandemic. We urge both sides to make real progress and deliver meaningful solutions.

Achieving results in these areas can also advance a more comprehensive strategic and forward-looking agenda. We are strongly in favour of the establishment of a dedicated platform for collaboration on key issues such as the green and digital transitions, enhancing bilateral trade and regulatory cooperation, and modernising and revitalising the WTO and rules-based trade.

Let’s build on this momentum at the upcoming EU-U.S. Summit to deliver tangible results for citizens on both sides of the Atlantic. As leaders of the transatlantic business community, we will work together to support U.S. and EU government leaders in strengthening the transatlantic partnership to best meet the challenges of the 21st century.

Jacob Wallenberg, Chair of the Board of Investor AB,
Chair of the European Round Table for Industry (ERT) Trade & Market Access Committee

Lance Fritz, Chairman, President & CEO, Union Pacific,
Chair of Business Roundtable Trade and International Committee

 

Recent Documents from Trade & Market Access

3 April 2025

Europe’s industrial leaders deeply regret U.S. administration’s decision to impose tariffs

Brussels, 03 April 2025: The European Round Table for Industry deeply regrets the Trump administration’s decision to impose tariffs, as it will have an intensely disruptive effect on the prosperity...
View Document
18 November 2024

Leaders of Europe’s top companies commit to restoring EU competitiveness by backing full implementation of Draghi and Letta reports

Madrid, 18 November 2024: The European Round Table for Industry (ERT) met in Madrid yesterday and today for its annual autumn plenary. Hosted by José-María Álvarez-Pallete, Chairman & CEO of Telefónica...
View Document

Contact

Boulevard Brand Whitlocklaan 165
1200 Brussels / Belgium

Tel: +32 2 534 31 00

Email: contact@ert.eu

    ert

Useful Links

  • Industry4Climate
  • Embrace Difference
  • Reskilling4Employment
  • Single Market Stories
  • Innovation Stories
  • Privacy Policy
  • Cookie Policy
  • Terms And Conditions

Copyright - European Round Table for Industry 2025 - All rights reserved.

  • Tweet
  • Facebook
  • LinkedIn
  • Tweet
  • Facebook
  • LinkedIn