Trade Policy-The New Backbone Of The Transatlantic Relationship?

Abstract

The Trump presidency put additional strains on the transatlantic partnership and diminished trust between traditional allies. While its administration adopted a series of protectionist measures together with clear "America First" and "Buy American" policies, the EU undertook multiple steps to protect itself in similar ways. Trade continued to flow in those 4 years, but under more hostile regulations and under the auspices of growing international crises and tensions. Biden's victory marked a moment of hope and optimism for the restauration of the transatlantic bond, as he is an advocate for closer US-EU ties and for a more traditional diplomacy. As the first two years of Biden's term have proven, there can be no return to "business as usual" after Trump, after COVID and during a full-scale war waged by Russia on the European continent. What is to be found is another way to do "business" and so far, there seems to be a preference for smaller, sectorial or sub-sectorial negotiations on specific topics/issues. The Transatlantic Trade and Investment Partnership (TTIP) has been (apparently) completely abandoned, while the new US-US Trade and Technology Council (TTC) brings some new promises.