Co-hosted with the German American Chamber of Commerce in New York
Donald Trump’s administration has represented an abrupt change in the US approach to trade. Since World War II, the US and Europe were the main proponents of economic liberalization and expanded international trade. This was based on the shared belief that freer markets were the foundation of growth for the countries involved.
In contrast, the Trump administration has followed an “America first” protectionist agenda. In June 2018, the government of the United States announced additional tariffs on steel and aluminium imports from the EU to protect US companies. Since then, the EU, China, and other trading partners have responded with further tariffs, prompting fears of full-blown trade war. Though the full economic effects of this reversal in trade policy are difficult to estimate, the political implications have been immediate and severe. For the first time in the post-war history, the German-American trade and economic partnership is being fundamentally questioned.
This panel explores how all parties involved in the global trade system can handle and shape the current political climate to refocus on the mutual benefits of trade. How can large multinational companies leverage their presence on both sides of the Atlantic to promote beneficial economic exchanges? How can the longstanding diplomatic relationship between Germany and the US help de-escalate the situation? The panel will develop a vision for the future of trade across the Atlantic and beyond. Will the paradigm of collaboration persist against all odds?