It is time for the European Union and the United States to build a shared, positive economic agenda towards third countries. Such an agenda would build upon the bilateral relationship but not focus on it. It would still be shared, even if the parties may have distinct reasons for supporting different aspects of it.
The first elements of a shared economic agenda are evident in the EU-US Trade and Technology Council projects for Jamaica and Kenya. However, the political window for further alignment between the US and the EU, as well as for European trade deals, may be closing in 2024.
Future initiatives should take into account major economies such as Brazil, Mexico, and Indonesia. The entry into force of the EU-Mercosur agreement should be a high-level priority for both Washington and Brussels.
The current state of the EU-US relationship is characterized by a divergence in technology, industrial policy, and environmental policy. To move onto a path of convergence, Washington must reassess its exaggerated fears regarding the regulatory power of the EU, and use the spread of European standards as a means towards shared ends.
