VIENNA / LONDON (IT BOLTWISE) – A new trade and investment agreement between the EU and the US promises both opportunities and challenges for European companies. While they are gaining competitiveness against third countries such as China, they are at risk of losses compared to US competitors. The implementation involves considerable risks.
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The recent trade and investment agreement between the European Union and the United States casts a complex picture on the economic relations of the two regions. The Oesterreichische Nationalbank (OeNB) analyzed the effects of this agreement in a recent blog post. European companies could become more competitive compared to third countries such as China or Switzerland, but lose ground in direct comparison to US competitors.
A central element of the agreement is the planned investment by European companies in the USA, which could reach a volume of up to 600 billion US dollars. These investments are intended to strengthen transatlantic economic relations, but there are significant doubts as to whether this objective can be achieved in the timeframe envisaged. Historically, such a high level of investment has never been realized in such a short period of time.
On the trading side, the picture is mixed. While the EU is losing price competitiveness against the USA and the United Kingdom, its position against third countries is improving. Although this stabilizes transatlantic relations, it also reveals an increasing asymmetry between the partners. The EU must redefine its strategic role in global trade relations in order to remain competitive in the long term.
The OeNB emphasizes that, despite open questions, the agreement is economically more advantageous than a trade policy escalation. However, significant implementation risks remain, especially on the procurement side, where many decisions are made in a market economy and are difficult to control politically. The EU faces the challenge of protecting its strategic interests in an increasingly asymmetrical global trading environment.
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