US - EU Trade Report Published

A new report from the American Chamber of Commerce to the EU (AmCham EU) and the U.S. Chamber of Commerce highlights that the key drivers of the transatlantic economy – investment, trade and company income – posted strong results again in 2022.

Despite the war in Ukraine, supply chain disruptions, dramatic energy shifts, high inflation and tightening financial conditions, last year was record-breaking across a range of indicators:

• U.S.-Europe trade in goods reached an all-time high of $1.2 trillion (€1.12 trillion.)
• U.S. company affiliates in Europe earned an estimated $325 billion (€303 billion), while European affiliates in the US earned $150 billion (€140 billion), the second highest level ever.
• U.S. exports of liquefied natural gas (LNG) to Europe hit their highest levels ever. U.S. exporters shipped roughly 2.5 times more LNG supplies to Europe in 2022 than in 2021.

The report also outlines avenues to advance the EU-U.S. partnership with the Trade and Technology Council and new opportunities to foster innovation and reduce strategic dependencies in the area of green technology.

This year marks the 20th edition of The Transatlantic Economy, the annual survey of transatlantic jobs, trade and investment.

The report is authored by Daniel Hamilton and Joseph Quinlan at the Foreign Policy Institute, School of Advanced International Studies, Johns Hopkins University and the Transatlantic Leadership Network.

To download the report, please click here.