European Union officials are currently seeking detailed information from leading businesses and CEOs about their investment plans in the United States, as trade talks with Washington are on the horizon. According to sources familiar with the matter, the European Commission reached out to members of the Confederation of European Business, known as BusinessEurope, on Monday. This outreach involved a survey requesting information regarding future investment initiatives in the U.S., with urgency emphasized in the responses. In addition, the European Roundtable for Industry, which comprises 59 influential CEOs from prominent companies like ASML, BASF, SAP, BMW, and Mercedes-Benz, received a similar request.
This initiative reportedly came directly from European Commission President Ursula von der Leyen, underlining the importance placed on securing information about U.S. investment over the next five years. The Commission, responsible for trade policy within the 27-member EU, is intensifying its efforts to negotiate a deal with the United States aimed at eliminating tariffs on EU imports or at least preventing any increases. Their strategy includes offering a proposal for mutual reduction of tariffs on industrial goods and increasing EU purchases of U.S. agricultural products and energy resources. Despite these efforts, recent announcements from European pharmaceutical firms reflect substantial investments in the U.S., with Roche and Novartis pledging considerable sums.
However, investment plans face dampening effects due to uncertainties arising from U.S. policy changes, particularly concerning drug pricing, which has raised concerns within the pharmaceutical sector. A survey conducted by Germany’s Chamber of Commerce and Industry revealed mixed sentiments, showing that while 24% of companies anticipated increased investments in the U.S., 29% indicated plans to reduce their input. Industry insiders note that the unpredictable nature of U.S. policy has made businesses wary of further investments in the market, with companies like Pirelli already halting their plans.