– PRESS RELEASE –
Brussels, Thursday, 3 April 2025
The US administration announced the imposition of a 20% tariff on most imports from the EU. In response, the EU indicated it is preparing for further countermeasures if no negotiated solution is found.
The American Chamber of Commerce to the EU (AmCham EU) is concerned that these measures will create damaging ripple effects across all sectors of the economy. Tariffs are harmful taxes on imports that increase costs for consumers and businesses. The associated financial impact and supply chain disruptions for a broad range of industries will be widespread and are simply too difficult to assess. The rapid imposition of the tariffs adds to the overall uncertainty, leaving close to no time for companies and officials to adjust.
Malte Lohan, CEO, AmCham EU, said: ‘These new tariffs, combined with possible EU countermeasures, will only fuel a cycle of retaliation that damages both sides. We are calling on the EU to avoid further escalation of the dispute and instead prioritise creating the environment required for negotiating an exemption from the tariffs.’
The EU and the US share a mutually beneficial economic relationship worth €8.7 trillion. Rather than imposing new tariffs, they should reach a deal that preserves the benefits of transatlantic trade and investment. Constructive engagement with the business community will be key to identifying practical solutions that serve both sides.
https://www.amchameu.eu/news/reciprocal-tariffs-amcham-eu-urges-de-escalation-tit-tat-dispute
AmCham EU speaks for American companies committed to Europe on trade, investment and competitiveness issues. It aims to ensure a growth-orientated business and investment climate in Europe. AmCham EU facilitates the resolution of transatlantic issues that impact business and plays a role in creating better understanding of EU and US positions on business matters. Aggregate US investment in Europe totalled more than €4 trillion in 2023, directly supports more than 4.6 million jobs in Europe, and generates billions of euros annually in income, trade and research and development.