U.S.-Europe Trade Booms as Old Allies Draw Closer
FRANKFURT—The global economic map is rapidly transforming, with trade and investment between the U.S. and Europe booming as Russia’s war in Ukraine and fraying ties between the West and China draw the trans-Atlantic allies closer.
The U.S. has imported more goods from Europe than from China this year, a big shift from the 2010s when China emerged as America’s dominant trade partner. From Swiss watches to German machinery and Italian luxury items, money and products are flooding across the Atlantic as never before. This is helping Europe’s embattled manufacturers, which are wrestling with skyrocketing energy prices. And it is pushing East Coast ports ahead of their West Coast counterparts in container volumes after years of a U.S. pivot to Asia.
Read more on wsj.com
