Policy | Brussels, 19 July 2018

At an event at the German Marshall Fund today in Brussels, EU Trade Commissioner Cecilia Malmström spoke on the topic of "Transatlantic trade in turbulent times".

Commissioner Malmström underlined the importance of the transatlantic link. "The EU-US relationship is essential to the stability of trade flows.We are an example of what can be achieved when we work side by side. Together, we can guarantee a future for the multilateral trading system. Recently, this stability between us has been called into question."

Next week, together with European Commission President Jean-Claude Juncker, Commissioner Malmström will travel to Washington, DC. President Juncker will meet US President Donald Trump on 25 July, accompanied by Commissioner Malmström and her counterpart on the US side. While in Washington DC, Commissioner Malmström will also meet with key senators and congressmen.

In her speech at the German Marshall Fund today, Malmström spoke about the US threat of imposing additional tariffs on European cars, and the way forward. "George Marshall once said that 'the only way to win a war is to prevent it.' The very same principle applies to trade wars – there will be no winners," Malmström said.

Commissioner Malmström also spoke about the need for reform of the World Trade Organisation.

"Time and again, we have seen progress held back by a small number of countries that pursue narrow, selfish interests. And as the WTO functions on consensus, we cannot move. This approach has now shown its limits. Members should be free to move forward at different speeds – to integrate and meet criteria at different times. Exploring this option would allow us to make progress in key areas."

Read the full speech here. There are also photos and a video available from the event.