Saturday, 10 May 2025, 3:06 am

    EU steps forward as U.S. reassesses global trade role

    The 55th WTCA Global Business Forum (GBF), hosted jointly by the World Trade Centers Association and WTC Marseille Provence, ignited critical discussion on global trade dynamics, with the European Union’s evolving role taking center stage amid shifting U.S. trade policy.

    As the U.S. reassesses its global trade posture, panelists at the GBF emphasized Europe’s increasing assertiveness in securing new trade agreements and diversifying global partnerships. Ken Levinson, CEO of the Washington International Trade Association and moderator of the “Global Outlook” panel, framed the moment with a pointed observation: “If the U.S. is pulling back behind its two big, beautiful oceans, is Europe looking to fill the void in some ways?”

    Iana Dreyer, founder of Borderlex, underscored the EU’s proactive outreach, citing the landmark finalization of the EU-Mercosur Free Trade Agreement after decades of talks. She detailed the bloc’s strengthened engagement with Southeast Asia, highlighting deals with Vietnam, and ongoing negotiations with Thailand, Malaysia, and Indonesia—moves seen as vital responses to the global ripple effects of U.S. tariffs.

    Dreyer also pointed to Europe’s growing bilateral ambitions, despite regulatory complexities. “The EU’s renewed pragmatism,” she noted, “aims to balance environmental goals with trade facilitation,” referencing internal reforms under the EU Green Deal to ease compliance for SMEs.

    Angela Ellard, Deputy Director General of the WTO, provided a broader perspective on how multilateral institutions are navigating global trade volatility. “Consider not just the immediate effects,” she advised attendees, “but the broader, long-term effects on global stakeholders.”

    The Forum drew over 400 participants from more than 50 countries and territories, reinforcing WTCA’s mission to connect global business leaders. With its “Gateway to the Mediterranean” theme, the event showcased Marseille’s strategic role in global trade, as EU ambitions and U.S. recalibrations reshape the international landscape.

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