On Wednesday, 14 October over 65 participants tuned in for AmCham EU’s webinar on the impact of the COVID-19 pandemic on the transatlantic economy and paving the way to recovery with Joseph P. Quinlan, Senior Fellow, Transatlantic Leadership Network who outlined the key findings from his newly published report on ‘Rebooting the transatlantic economy’.
Rebooting the transatlantic economy: webinar
On Wednesday, 14 October over 65 participants tuned in for AmCham EU’s webinar on the impact of the COVID-19 pandemic on the transatlantic economy and paving the way to recovery with Joseph P. Quinlan, Senior Fellow, Transatlantic Leadership Network who outlined the key findings from his newly published report on ‘Rebooting the transatlantic economy’.

In his remarks, Mr Quinlan talked of the ‘perfect storm’ that has landed on the transatlantic economic partnership, with the pandemic still prevailing, an economic downturn of historic proportions, and the tense geopolitical context. However, in spite of this, growth is starting to pick back up, and policymakers have laid the foundation for recovery into 2021. He outlined numerous challenges and opportunities for the transatlantic partnership, including the rise of China, the trend towards ‘deglobalisation’, and the acceleration towards the digital transformation.
A question and answer session followed, led by Taggart Davies, Chair, Transatlantic Task Force, AmCham EU. Fielding a question on open strategic autonomy, Mr Quinlan pointed out that he felt a stronger, less dependent EU would be a more attractive prospect for American investment. With regard to the rise of China, Mr Quinlan suggested that the US and the EU must cooperate to try to bring China into the fold of multilateralism. With regard to Wall Street’s feeling about the European investment climate, Mr Quinlan pointed to the euro’s relative strengthening against the dollar to highlight that investors had been impressed with EU policymakers’ swift and decisive actions to issue mutual debt and to act as one.
For more information on a stronger transatlantic relationship, read our set of recommendations published this week.
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On Friday, 21 November AmCham EU joined Ambassadors Jamieson Greer, United States Trade Representative, Andrew Puzder, US Ambassador to the European Union and Bill White, US Ambassador to the Kingdom of Belgium. During the discussion, Malte Lohan, CEO, AmCham EU voiced strong support for the EU-US Framework Agreement, which offers the best path to improve the trade and investment climate, while addressing concerns about the economic impact of broad tariffs. AmCham EU continues to support other key parts of the deal, as well as calling on the European Parliament and Council to quickly adopt the Commission’s tariff reduction proposals with minimal changes.
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Tackling competitiveness with our Executive Council
Urgency around simplification, predictability for businesses and the growing disconnect between political narrative and business reality were centre stage during AmCham EU’s Executive Council (ExCo) Fall plenary on Monday, 3 and Tuesday, 4 November in Brussels. With a view from the boardroom of some of the largest companies invested in Europe, the senior leaders emphasised how complex and overlapping rules are making it harder to plan, invest and grow in the region. They stressed that the current focus on adding new requirements is not matched by efforts to reduce or align existing ones. The result is a business environment that feels increasingly unpredictable, despite policy goals aimed at growth and competitiveness.
Julie Linn Teigland, Chair, Executive Council, AmCham EU, said: ‘The ExCo was encouraged by the earnest and determined focus of simplification agenda and how both Commission and Council are putting competitiveness at the centre of EU policy making. The way forward is to set ambitious goals and deliver on them. We truly believe that Europe has the right capabilities and potential to stay an attractive place for investment, growth and innovation.’
In meetings with senior EU and US officials, including Ambassador Carsten Grønbech-Jensen, Permanent Representation of Denmark to the EU; Ambassador Aingeal O’Donoghue, Permanent Representation of Ireland to the EU; Ambassador Andrew Puzder, US Mission to the EU and Björn Seibert, Head of Cabinet to European Commission President Ursula von der Leyen, the group of business leaders reinforced the call for clearer, more consistent regulation and a renewed commitment to strengthening the Single Market. Underpinning the discussion was the need for progress on the EU-US Framework agreement, one that provides a path to predictability for businesses.
Europe must act now to safeguard its competitiveness. That means cutting complexity, ensuring policy matches business reality and deepening ties with trusted partners. If Europe wants to lead on innovation, sustainability and security, it must first be a place where business can thrive.
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