Welcome to Cato Daily

Kato Daily Podcast with your host Anastasia Glova.

In today's episode Richard Ron and I discussed the rise of anti-Americanism among European

economic and business circles.

Richard's remarks on this topic appeared recently in Tech Central Station and as a Cato

Daily Commentary. Richard is Director General of the Institute for Global Economic

Growth and an adjunct scholar at the Cato Institute.

Is European Anti-Americanism really something to worry about?

There is an element of plain old good fun between rivals across the Atlantic,

so why do you see it as a threat?

Well there's an element of plain old good fun and it's been going on since the American Revolution or even

before.

But it sometimes has rather dangerous ramifications when we talk about different types of trade protectionism, tax protectionism, tax

information sharing, violations of intellectual property rights, and the U.S. and Europe have the world's largest joint economic relationship.

More than a trillion dollars worth of trade and goods and services takes place between the EU and

the United States each year. About half of all US foreign investment is in Europe. We hear about Asia and Japan and China all the time.

But it is Europe where our biggest single trading relationship takes place,

our biggest single investment relationship takes place, and the same thing is true with the Europeans

invest in the United States.

And it's fine to have like a football rivalry between a couple of state schools, but you don't want to start penalizing each other

and diminishing the amount of trade or investment through ill thought out rules, regulations, and taxes. and that's what I'm concerned about.

How exactly is that economic interdependence threatened by this anti-Americanism?

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