US-EU tariffs threaten $9.5 trillion in trade

The U.S. has recently imposed tariffs on steel, aluminum, wine, and spirits, prompting the EU to plan retaliatory measures. This tariff conflict threatens $9.5 trillion in annual transatlantic business, according to the American Chamber of Commerce to the EU. The AmCham EU report highlights a record trade relationship in 2024, with goods and services trade reaching $2 trillion. It emphasizes that U.S. and European investments primarily flow to each other, rather than to lower-cost markets. The report warns that the trade conflict could disrupt interlinked value chains and affect various sectors, including services and energy. The potential ripple effects may impact the overall economic relationship between the U.S. and Europe.