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An open letter on trade: The facts speak for themselves

Shipping containers stand stacked portside Zhu Difeng / Adobe Shipping containers stand stacked portside

There has been a lot of talk recently about the trade and investment relationship between the European Union and the United States. Who wins? Who loses?

.The fact is, we are both winning and have been for years. Claims to the contrary, including that the United States is at the losing end of this relationship, deserve to be debunked. Because the United States makes more money doing business with the E.U. than with anyone else.

The facts speak for themselves:

Fact No. 1: Together, the U.S. and the E.U. have created the largest and wealthiest market in the world. The transatlantic economy accounts for half of the global gross domestic product by value, which directly supports more than 15 million high-quality jobs and $5.5 trillion in commercial sales. And nearly one-third of the world’s trade in goods occurs between the E.U. and United States alone.

Fact No. 2: The United States has a partner in the form of the European Union that invests more in the United States than the United States does in it. The E.U.’s foreign direct investment in the United States is $2.56 trillion, compared with $2.38 trillion in the other direction. Seventy percent of all foreign direct investment in the United States comes from Europe.

Read the full column by 29 EU ambassadors to the US in the Washington Post

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