With Russia at war and China more introverted, the U.S. and European economies are closer than they have been in years
have changed how companies trade. On both sides of the Atlantic, governments have encouraged firms to produce critical products locally instead of in Asia. Some German companies have started exporting to the U.S. out of plants in Germany instead of China, partly to avoid tariffs, trade groups say.
Germany’s mechanical-engineering companies, a sector that employs roughly one million people, increased exports to the U.S. by almost 20% year-over-year in the nine months through September, to €18 billion. In contrast, the sector’s sales to China declined by 3% during the period to €14 billion, according to the German Mechanical Engineering Industry Association, or VDMA, a trade group.
“The EU-U.S. economic relationship is stronger than it has been in quite some time,” said Margrethe Vestager, executive vice president of the European Commission, the European Union’s executive body. “You see it in the numbers.”, European governments are boosting their military capabilities and cyber defense, seeking to build more semiconductor plants at home and pushing for local production in industries such as artificial intelligence.Photo:“It’s a dependency that goes two ways,” Ms.
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