How America and Its Administration Can Reframe the Transatlantic Relationship

The United States has long seen both Europe and the United Kingdom as partners in a robust trading relationship. However, recent years have shifted these relations in part due to levying of tariffs and countermeasures. For example, disputes between aircraft manufacturer giants Boeing and Airbus have caused rifts in relationships over subsidies. With the U.S.’s new administration, there’s hope to repair any long-standing disputes between the two countries.

The U.S. Can Bridge the Transatlantic Relationship Without Sidelining American Companies

According to Marjorie Chorlins, SVP for European Affairs at the U.S. Chamber of Commerce, creating a more collaborative transatlantic relationship needs to be top among the new presidential administration’s list of priorities.

“[The Biden administration] can look at areas where the U.S. and Europe can partner together,” Chorlins explained. A few key areas to solidify in this partnership include efforts to recover from the pandemic, energy sustainability, reconfiguring the multilateral trading system and responding to China’s unfair business practices.

Chorlins noted that while "Europe is interested in exercising its technological sovereignty and what it calls open strategic autonomy," there still needs to be boundaries regarding the U.S.’s investors and exporters and Europe’s hold over trade.

“It’s one thing to become more competitive,” she added. “It’s another to do it at the expense of American companies.”

Trade Relations Between the UK, US and European Union Need Further Negotiation

A potential problem in U.S. and European relations is that the U.K. is now separated from the European Union. The EU and the U.K. have spent recent years negotiating their current trading relationships now that the UK. has made its separation.

As the relationship agreements between the U.K. and the EU are still fresh, Chorlins stated there will be future trade disruptions to work out between the two markets. These issues may extend to the U.S. where companies look towards accessing the EU central market, which could be rocked by the separation.

Additionally, the U.S. and U.K. are in the process of negotiating a bilateral trade agreement. Chorlins explained this negotiation could assist the two countries in joining forces regarding digital trade, intellectual property protection, and trade in services.

“We see a real opportunity to wrap up those negotiations once the new U.S. administration is in place,” said Chorlins. “There are ways that the U.S. and UK can strengthen [their] relationship.”