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VDMA on Senate elections

Andrea Gillhuber,

More predictable trade policy expected

The Senate elections in Georgia have been lost in the chaotic scenes from the US Capitol. However, they are an important success for President-elect Joe Biden. The VDMA now expects a more predictable trade policy.

The Capitol in Washington, America.

© Pixabay/CC0

The scenes in front of and inside the Capitol caused a stir worldwide. Somewhat lost in the tumult was the news that the Democrats had won the Senate elections in Georgia. The party now has a majority with the vote of Vice President-elect Kamaa Harris. The day after the actions in the Capitol, on January 7, VDMA CEO Thilo Brodtmann commented on the situation in Washington, America:

"We are shocked by the chaotic scenes from the US Capitol and hope that the situation in Washington will now calm down quickly and that the handover process will continue. Yesterday's events almost drowned out the outcome of the Senate elections in the US state of Georgia. The Democrats' victory there is an important success for the new President Joe Biden. Thanks to the decisive vote by US Vice President Kamala Harris, the Democrats now have a majority in both chambers of Congress. This will make it easier for the new government to implement its ambitious election promises.

In principle, a more predictable trade policy can be expected with the swearing-in of Biden, which will once again involve the transatlantic partners more closely. However, this alone will not be enough for a complete restoration of transatlantic trade relations. For this reason, in its new short position 'A new start for trade relations with the USA', the VDMA calls, among other things, for the USA to quickly return to talks to conclude a transatlantic trade agreement with the EU and for the existing American punitive tariffs to be lifted.

With the 'Green New Deal', the US industrial society is to become more socio-political and climate-oriented, combined with the creation of new jobs in the USA. Investments amounting to 1700 billion US dollars are to be linked to this in the next legislative period. The EU must take the opportunity to seek close cooperation with the USA. Only together can we shape issues such as WTO reform and a level playing field with China."

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