For Europe, the stakes are high in the US elections in November. The EU-US economic relationship is the world’s largest – the value of traded goods and services is more than €1 trillion per year, and each is the other’s largest partner in both trade and investment. The EU has over time become increasingly dependent on the US to soak up its exports. The US has long been the global consumer of last resort, absorbing production from both East Asia and Northern Europe.
Authors: Aslak Berg, Research Fellow; Zach Meyers, Assistant Director, CER.
This article is available on the CER website.