Dear Chair, dear Bernd,

Honorable Members.

It is a pleasure to be here in front of the Committee on International Trade.

The EU and the US enjoy the largest bilateral trade and investment relationship in the world, with transatlantic trade in goods and services worth EUR 1.6 trillion in 2023. EU-US bilateral investment flows top more than EUR 5 trillion.

It should be a priority for both sides to protect and further develop this relationship and to work together on shared challenges.

The US imposed 25% tariffs on EUR 26 billion of EU steel and aluminum exports. The EU responded with countermeasures and continues to seek constructive dialogue.

The EU is also advancing negotiations with other global partners, expanding its network of Free Trade Agreements to boost competitiveness.

Recent developments include negotiations with India, Mexico, and Mercosur, as well as discussions with countries like Thailand and Indonesia.

In addition, new initiatives like the Clean Trade and Investment Partnerships aim to align trade with sustainability goals.

Finally, engagements with China and other strategic partners continue, focusing on mutual trade interests and challenges.