Prospects for overcoming the trade crisis between Europe and the United States

Such bad relations between the United States and the European Union have not existed for more than a few decades. After the US withdrew from the climate agreements, the withdrawal from the agreement with Iran, the G7 summit in Charlevoix was another blow to the EU. In a situation of such significant conflicts, can the center of gravity be shifted and potential doors of cooperation that have been closed over the past few months can be opened? Can the EU and the US solve problems not only in bilateral relations, but also in global problems?

At the end of May, European Commission President Jean-Claude Juncker announced that the EU is ready to offer significant concessions and sign the TTIP free trade agreement. Only Germany and Italy supported the bilateral agreement; Dutch, Swedes and French exclude any discussion at this stage.

US exports to the EU support about 2.6 million jobs, and about 200,000 European companies sell goods and services to the US.

In accordance with the Commission's assumptions, negotiations on the elimination of customs tariffs on non-agricultural products are coming to the fore.
The EU has repeatedly stated that it will not negotiate with a knife at its throat. In all-on-one politics, the European Union also has a lot to gain in some aspect. In the absence of leadership in international trade, which has belonged to the United States for decades, the Union will be able to strengthen its position as a leader and more easily promote the rules of trade.

Announced U.S. tariffs on steel and aluminum, lack of consent to appoint judges from the World Trade Organization (WTO) appeals body, withdrawal from the Iran deal or withdrawal of the United States from the Paris climate agreement are just a few of President Trump's unilateral decisions that have had significant impact. not only on transatlantic relations, but also undermines the functioning of the international system based on rules and cooperation.

In a situation of such a conflict and a policy of US blackmail, can the center of gravity be shifted to open a door of potential cooperation that seems to be sealed for months? Can the EU and the US solve problems not only in bilateral relations, but also in global problems?

The economy, Europe and the United States are inextricably linked while at the same time representing two of the world's major trading powers. The European Union is the United States' largest ally, while the United States is the Community's most important foreign trade partner in trade in goods and services. Thus, a trade war will have devastating consequences for both partners and their citizens.