Transatlantic Economy 2025

Published by: AmChamEU

The transatlantic relationship is the most mutually beneficial on earth. While the $9.5 trillion Europe-US economy faces several hurdles in 2025, from trade disputes to challenges from China, it does so with strong momentum following a year marked by all-time highs.

Even in testing times, the Europe and the US remain each other’s most important markets and geo-economic base.

As headlines blare that Europe and the US are drifting apart, commercial ties between the two sides – the deepest and broadest between any two regions in history – are accelerating. In a new study, authors Daniel Hamilton, Senior Fellow at the Foreign Policy Institute of Johns Hopkins University’s Paul H. Nitze School of Advanced International Studies, and Joseph Quinlan, Senior Fellow at the Transatlantic Leadership Network, value the transatlantic economy at a new estimated high of $9.5 (€8.7) trillion in 2024, up from $8.7 (€8) trillion the previous year. This figure comprises an estimated record $2 (€1.8) trillion in goods and services trade between Europe and the United States and $7.5 (€6.9) trillion in combined affiliate sales.

The Transatlantic Economy 2025, supported by the American Chamber of Commerce to the EU (AmCham EU) and the U.S. Chamber of Commerce, features the latest insights on jobs, trade and investment between Europe and the United States. The 2025 edition of the study presents record-breaking figures across multiple fronts, including:

• Trade in goods: Europe-US goods trade of $1.3 (€1.2) trillion; EU-US goods trade of $976 (€899) billion.
• Trade in services: US services exports to the EU of $275 (€253) billion (est.).
• Affiliate performance: US affiliate sales in Europe of $4 (€3.7) trillion (est.); European affiliate sales in the US of $3.5 (€3.2) trillion (est.).
• Energy partnership: US share of Europe’s LNG supplies reaching 48%; Europe’s share of US LNG global exports hitting 55%.

Despite this strong performance, however, the study highlights a range of risks for 2025, including uneven growth rates between Europe and the US, competitive pressures from China and the prospect of a transatlantic trade war.