EU-US Trade Hits $800bn, AMCHAM Highlights Investment

On Wednesday 11 November 2026, the American Chamber of Commerce in Luxembourg (AMCHAM) held its annual Transatlantic Trade and Investment event at Deloitte Luxembourg in Luxembourg-Gasperich, focusing on economic relations between Europe and the United States (US) and their importance for Luxembourg.

Around 200 people attended event, including ambassadors and business representatives.

Deloitte Luxembourg CEO Joachim Heukmes opened the evening by highlighting transatlantic cooperation, citing the September 2026 launch of three SES satellites from Florida. He noted that the US remains a key market for Deloitte Luxembourg, particularly in its work with alternative asset managers, and highlighted opportunities in technology and artificial intelligence (AI).

Referring to the 2026 Transatlantic Economy Report, he added that the US-Europe commercial relationship reached an estimated $9.8 trillion in 2025.

AMCHAM Luxembourg Chairman and CEO Paul Schonenberg then took the stage, recalling historical ties between Europe and the US, including the Marshall Plan and American support for the development of Europe's coal and steel industry.

He described the transatlantic economic relationship as “the most important trading relationship that the world has ever experienced anywhere”.

Paul Schonenberg also noted that AMCHAM Luxembourg, which celebrates its 30th anniversary this month, is one of seven sponsors of the annual Transatlantic Economy Report.

US Ambassador to the EU Andrew Puzder, spoke next highlighting Luxembourg's ability to attract investment and stressing the importance of European competitiveness.

He outlined five priorities for strengthening transatlantic relations, including: completing the EU-US trade agreement; reducing digital regulation; improving space regulation; ensuring affordable energy supplies; and maintaining cooperation in defence.

Andrew Puzder also called for fewer EU regulations, stating: "Europe does need simpler rules, but it needs more than that. It needs fewer rules."

Thibaut l'Ortye, Director of Public Affairs at AmCham EU in Brussels, Belgium, then presented the findings of the 2026 Transatlantic Economy Report alongside developments during the first half of 2026.

According to the figures presented, overall EU-US trade reached approximately $800 billion, down 3% compared with the same period in 2025. While goods trade declined, services trade continued to grow and company earnings remained on track for annual records.

Investment figures showed a different trend, with European investment in the US increasing by 70%, while American investment in Europe declined by 20%.

Thibaut l'Ortye also highlighted Luxembourg's role in the transatlantic economy, noting that US investment in Luxembourg supported 21,115 jobs, while Luxembourg investment in the US supported 82,606 jobs. He also called for a stronger European single market, citing IMF estimates that internal barriers were equivalent to tariffs of 44% on goods and 110% on services.

US Ambassador to Luxembourg Stacey Feinberg highlighted Luxembourg's strengths as a business location, including its stable economy and access to decision-makers.

Reflecting on her visits to American companies operating in the country, she noted their contribution to Luxembourg's economy and identified AI, space, cybersecurity and defence as areas for further cooperation between the Grand Duchy and the US.

Stacey Feinberg also welcomed United Airlines' plans to introduce daily direct flights between Luxembourg and Newark in April 2027.

Paul Schonenberg closed the official programme by highlighting further opportunities for Luxembourg businesses interested in the US market.

The evening concluded with a cocktail reception.