Ahead of trade talks, Brussels seeks detail on companies' US spending - GMG POLITICS

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Tuesday, May 27, 2025

Ahead of trade talks, Brussels seeks detail on companies' US spending

Ahead of trade talks, Brussels seeks detail on companies' US spendingNew Foto - Ahead of trade talks, Brussels seeks detail on companies' US spending

By Victoria Waldersee and Christina Amann BERLIN (Reuters) -European policymakers have asked the bloc's leading companies and CEOs to swiftly provide detail of their U.S. investment plans, according to two sources familiar with the matter, as Brussels prepares for trade talks with Washington. Members of the Confederation of European Business, also known as BusinessEurope, an alliance of 42 federations across the region, received a survey from the European Commission on Monday. It asked for information on upcoming U.S. investments with the instruction to respond as soon as possible, one source said. A similar note seeking information on investment plans for the next five years was sent to the 59-person European Roundtable for Industry, a second source said, with a note that the request came personally from European Commission President Ursula von der Leyen. BusinessEurope, the European Roundtable for Industry and the European Commission did not immediately respond to requests for comment. The sources asked not to be named because they were not authorised to speak publicly on the issue. The Commission, which oversees trade policy for the 27-nation European Union, is stepping up efforts to secure a deal with the United States to end U.S. import tariffs on EU goods, or at least prevent any increases. The Commission is trying to establish what might satisfy U.S. President Donald Trump, having offered a deal in which both sides move to zero tariffs on industrial goods, and the EU buys more soybeans, arms and liquefied natural gas. Trump has made clear a chief goal of his tariffs is to re-industrialise the United States, towards which European corporate investment could contribute. Frustrated at the slow pace of negotiations, Trump threatened to raise tariffs on the bloc to 50% on June 1, but backtracked after a call with von der Leyen on Sunday. EU diplomats briefed late on Monday said they were told the two leaders did not go into substance, but agreed contacts should increase and talks accelerate. European Trade Commissioner Maros Sefcovic on Monday spoke in what he described as good calls with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, with whom he has previously had tougher talks. "The EU Commission remains fully committed to constructive efforts at pace towards an EU-US deal. We continue to stay in constant contact," he wrote on X. The EU wants to see an end to 25% tariffs on steel and cars and for Trump to drop his "reciprocal" tariff, which was provisionally set at 20% for the EU but is being held at 10% during a 90-day pause until July. (Reporting by Victoria Waldersee and Christina Amann in Berlin, Philip Blenkinsop in Brussels, Editing by Friederike Heine and Barbara Lewis)