After the massive trade conflicts between the USA and the EU, German industry is hoping for a "new start at eye level" from the coming US President Joe Biden. Industry President Dieter Kempf said on Sunday, according to a statement from the Federation of German Industries (BDI): "After the Trump era, it must now be about reviving our relationships and rebuilding the damaged trust."
Kempf appealed to Biden to take the "huge potential" of the transatlantic market seriously. “EU and US companies trade goods worth around 1.7 billion euros with each other every day. An industrial goods agreement and stronger cooperation on regulatory issues would give both sides much-needed growth impetus. " The time is also ripe for “the EU and the USA to set strong common standards for artificial intelligence and international data usage”.
The BDI now also hopes that the decades-long dispute over Airbus and Boeing subsidies can be settled in negotiations. "The tariffs that the US is now raising are putting a strain on the economy on both sides of the Atlantic," said Kempf. "We are counting on the future US President treating the EU as an ally again." (DPA)
Foto: Andrew Harnik / POOL / AFP