Madame President,
Honourable Members of the European Parliament,
Dear Minister.
The European Union and the United States share a deep friendship and alliance. The transatlantic relationship is founded on a shared history and strong bonds.
For decades, this partnership has been a cornerstone of peace, security, and economic growth. What was true yesterday remains true today and will hold true tomorrow.
With President Trump’s inauguration yesterday, the EU therefore stands ready to deepen and strengthen this vital relationship.
We will engage in meaningful dialogue, discuss shared interests, and continue to advance our work to address geopolitical challenges together.
And in our engagement with the new Administration, the European Commission will remain unwavering in upholding the EU’s priorities and interests.
We will continue to support an inclusive, rules-based multilateral system anchored in the principles of the UN Charter. This includes upholding the sovereignty, territorial integrity, and inviolability of borders.
We will maintain our unwavering commitment to Ukraine, providing sustained political, financial, economic, humanitarian, military, and diplomatic support for as long as it takes. We will support achieving a comprehensive, just, and lasting peace.
The EU also remains fully committed to safeguarding the democratic values and freedoms of its citizens, especially the freedom of speech, and the integrity of electoral processes.
We will remain focused on our pressing challenges. Strengthening our economy, fostering innovation, and promoting competitiveness will remain key priorities.
This includes being consistent and supportive when it comes to clean and digital technologies, like batteries, and related newly-grown industries.
Honourable Members,
We take note of the Memorandum on an America First Trade Policy, adopted yesterday by the U.S. President Donald Trump.
The transatlantic trade and investment relationship is a key artery of the global economy. No other economies in the world are as integrated as we are. Entire supply chains stretch on both sides of the Atlantic.
The EU and the U.S. have the largest bilateral trade and investment relationship in the world, supporting more than 16 million jobs and accounting for 42% of global GDP.
In 2023 alone, bilateral trade flows reached EUR 1.6 trillion – EUR 870 billion of trade in goods and EUR 680 billion of trade in services. More than EUR 4 billion of goods and services cross the Atlantic every day. European companies in the U.S. employ 3.5 million Americans. And another million American jobs depend directly on trade with Europe.
Equally, our bilateral investment flows are unrivalled. The EU and the U.S. have more than EUR 5 trillion invested in their respective economies (2022 data). And of all American assets abroad, two thirds are in Europe.
The EU wants to leverage this robust relationship to enhance growth, maintain technological leadership and boost resilient supply chains.
It would no doubt be advantageous for the EU and the U.S. to work together across the board.
So, we will continue to be a strong partner, ready to engage and cooperate as a matter of priority and pursue a positive agenda with the U.S., discussing common interests, and stand ready to negotiate. We will be pragmatic.
But the EU will also stand by its principles and will be prepared to defend its legitimate interests if this is necessary.
We take note of today’s decisions by the new U.S. administration regarding energy production and exports.
The EU already is the largest importer of U.S. Liquified Natural Gas – providing over 50% of our LNG.
And the Commission is ready to work with the new administration to further strengthen this strategic cooperation, as we work to strengthen our own energy security.
The EU regrets the decision by the United States to withdraw from the Paris Agreement, which we believe continues to be the best hope for us all.
For more than a decade, we have worked side-by-side with our American friends to design and implement the Paris Agreement.
Companies in both Europe and America are investing in climate action, in clean technologies, and in bringing their benefits to citizens.
So, Europe will stay the course and work to ensure that this continues, both at home – for example through the upcoming Clean Industrial Deal – and abroad, with all nations that want to protect nature and stop global warming.
The EU looks forward to working closely with the new US Administration to tackle pressing global challenges.
A lot is at stake for both sides – more so as the rules of engagement between global powers are changing.
We will address shared priorities for prosperity and international security, reaffirming the enduring strength of the transatlantic partnership.
Thank you.
Source – EU Commission