There is a global need for free and fair trade; however, imposing tariffs to achieve these results is the wrong approach. The transatlantic economy is the world’s largest market and supports 16 million jobs on both sides of the Atlantic.
Moreover, the U.S. and Europe have together fostered free markets, open societies, sound environmental standards, and more based on our shared values. We believe that continued, constructive engagement is the right way forward. Tariffs undermine the competitiveness of companies who manufacture in the EU and rely upon U.S. exports in their supply chain.
We urge the U.S. government to revisit its plans, and the EU to take a balanced approach in responding to these measures. We are very concerned by the damage a tit-for-tat dispute may inflict upon the transatlantic economy, and its impact on jobs, investment, and security across the Atlantic.
The EU and the U.S. should cooperate to solve the core issue of global overcapacity. In addition, they should collaborate to address third countries’ unfair trading practices and to improve the functioning of the World Trade Organization (WTO).
AmCham Sweden strongly encourages the EU and the U.S. to keep working towards ‘zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods,’ as agreed in the Joint U.S.-EU Statement following President Juncker’s visit to the White House in July of 2018.
AmCham is always on the side of free and fair trade and therefore we are skeptical of the tariffs approach; we are equally opposed to Europe’s retaliation. Simply put, tariffs are a tax on consumers and businesses. Tariffs are the wrong approach to address unfair trade practices.
About AmCham Sweden
AmCham Sweden was founded in 1992. The organization has more than 200 members, ranging from start-ups to multinational corporations. The members, representing many different industries, create a dynamic organization providing networking and innovative ideas. AmCham Sweden annually organizes a number of open events and seminars, and participates in the public debate on relevant issues.www.amcham.se