“It’s been a great achievement,” said the TTC’s Daniel Mullaney, the former chief U.S. negotiator on trade issues with Europe. “We have received high-level attention, including at the presidential level, on all of these issues. This helped maintain the momentum.
The question now is what happens if Trump wins back the White House in November. Although Biden is seeking a second term, his economic agenda known as “bidenomics” focuses on government subsidies for local industries and a growing distrust of the global trade order.
Current officials dismiss those concerns, saying Washington will always work closely with its allies.
“Whoever sits in the White House or the Berlaymont will have to take into account that trade and economic relations between the United States and the EU are simply too important,” said Leopoldo Rubinacci, deputy director-general of the European Commission. . Commerce Department.
Yet Trump, now the Republican presidential candidate, has warned he would impose 10% tariffs on all imports. During his first term, Trump also imposed tariffs on many European products and used the State Department to pressure EU allies to turn on Huawei, the Chinese telecommunications giant.
If history is to be believed, a new MAGA administration would not bode well for transatlantic ties.
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