The United States and the current 27-member European Union (EU) have extensive trade and investment ties that have evolved and deepened with the growth of global supply chains, trade in services, and cross-border investment. They are a dominant economic force globally; in 2019, they jointly accounted for
- 26% of world merchandise exports and 30% of merchandise imports;
- 39% of world commercial services exports and 33% of commercial services imports; and
- more than half of global outbound and inbound foreign direct investment (FDI).
(Trade data from World Trade Organization, extra-EU trade; FDI data from U.N. Conference on Trade and Development.) Members of Congress have an interest in examining U.S.-EU trade and investment ties, given their magnitude, scope, and implications for U.S. trade policy.IF10930
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