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AmCham EU

Published on
27 April 2024

Transatlantic Economy 2024 Report: Building Economic Bridges Across Continents

The “Transatlantic Economy 2024” report comprehensively analyses the economic ties that bind the United States and Europe, showcasing a partnership that has become the backbone of the global economy. Amidst shifting alliances and economic uncertainty, this bond is a testament to the power of collaboration and mutual growth. Delving into the nuances of trade, digital economy, innovation, and investment, the report highlights how these elements work together to forge an unbreakable economic link across the Atlantic. 

The 21st edition of the report features new insights into international support for Ukraine and sanctions against Russia, significant shifts in the transatlantic energy economy, the reconfiguration of global supply chains with de-risking strategies at play, relations with China, and green and digital transitions. 

The Pillars of Trade and Employment

At the heart of the transatlantic relationship is a vibrant trade exchange that has reached new heights, with the merchandise trade between the US and Europe soaring to an unprecedented $1.22 trillion in 2023. This remarkable achievement underscores the depth of economic integration and the shared prosperity such a partnership yields. Beyond the impressive trade figures, the transatlantic economy plays a pivotal role in job creation, supporting over 16 million jobs across both continents. These opportunities illustrate the widespread impact of this economic alliance, making the bond a personal one for many.

Digital Integration and Energy Cooperation

The transatlantic digital economy is a crucial component of economic connectivity in today’s digital age, with data flows underpinning trade and investment between the regions. Furthermore, the energy sector emerges as a key area of cooperation, with the US becoming an essential supplier of liquefied natural gas and oil to Europe. This partnership is pivotal for Europe’s energy security and transition towards sustainable energy sources, showcasing how transatlantic cooperation can address global challenges.

Towards a Thriving Future Together

As we stand on the threshold of a new era, the “Transatlantic Economy 2024” report shines a light on the indomitable spirit of US-European relations. This economic alliance, built on a foundation of shared values and mutual respect, is a beacon of hope for a prosperous global future. The report inspires a vision of a future where partnerships can overcome global challenges, serving as a powerful force for unity, progress, and shared prosperity.

The collaboration between the communication team of AmCham EU, expertly led by Thibaut L’Ortye, and the creative agency #inextremis in creating this report exemplifies the power of partnership in achieving excellence. They made a visually engaging story that captures the essence of the transatlantic economic bond through strategic messaging and design. The research was conducted independently by Daniel Hamilton and Joseph Quinlan at the Foreign Policy Institute, School of Advanced International Studies, Johns Hopkins University and the Transatlantic Leadership Network.