According to the author, the establishment of the TTC in 2021 marked a significant milestone in transatlantic trade relations. It has demonstrated its efficacy in responding to Russia’s invasion of Ukraine with unprecedented sanctions and advancing economic security initiatives targeting China. However, its achievements in areas such as trade and green technology have been less remarkable. Additionally, it has faced challenges in resolving intricate U.S.-EU trade disputes. The Council’s future beyond 2024 remains uncertain and will be heavily influenced by the outcomes of this year’s elections on both sides of the Atlantic.
The policy brief outlines a clear list of recommendations including 1) conducting an official evaluation of the TTC; 2) evaluating the TTC to serve as the central nervous system of transatlantic economic coordination; 3) streamlining the working group structure, 4) reducing the frequency of ministerial meetings; 4) establishing a TTC secretariat to formalize external stakeholder engagement; 5) boosting opportunities for legislative engagement; and 6) leveraging the TTC’s potential as a docking station for collaboration with other like-minded partners.
The policy brief is a publication of the Transatlantic Expert Group set up by the Bertelsmann Stiftung and the Bertelsmann Foundation in Washington, D.C.
