Brussels seeks detail on EU firms' US investment plans ahead of trade talks
European Union policymakers have asked the EU's leading companies and CEOs to swiftly provide detail of their US 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 US 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.
The roundtable's members include the CEOs of companies ranging from chip equipment maker ASML to chemicals group BASF to software company SAP, as well as carmakers BMW and Mercedes-Benz.
BusinessEurope's members include employer and industry associations representing an equally wide range of companies, notably Germany's auto sector, as well as the aerospace and pharmaceutical industries.
BusinessEurope and the European Roundtable for Industry did not immediately respond to requests for comment, while the commission declined to 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 EU, is stepping up efforts to secure a deal with the United States to end US import tariffs on EU goods, or at least prevent any increases.
The commission is trying to establish what might satisfy US 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 US, towards which European corporate investment could contribute.
Some of the biggest investment announcements from Europe so far have come from the pharmaceutical sector, with Swiss pharma companies Roche and Novartis pledging $50bn (€43.9bn) and $23bn respectively. France's Sanofi has said it wants to invest at least $20bn through 2030.
However, further plans are under threat by Trump's executive order on drug pricing, Roche flagged earlier in May.
At least seven other European companies have said they would increase investments in the US, but gave no specific details on spending plans, a Reuters review of releases and executive comments on earnings conference calls over the last two months shows.
A survey by Germany's Chamber of Commerce and Industry this month found that 24% of companies planned higher investments in the US in the coming year, but 29% were reducing their investments.
Reuters
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