This article first appeared on the AmChams in Europe LinkedIn page
The annual AmChams in Europe (ACE) Conference got off to an energizing start yesterday. Attendees were welcomed to the US Chamber of Commerce in the early morning, where Suzanne P. Clark, President and CEO of the US Chamber of Commerce, stressed the vital function of businesses in supporting governments in addressing significant concerns.
Marty Durbin, Senior President of the Policy Division and President of the Global Energy Institute, addressed US industry problems, highlighting permitting delays and shortages of employees triggered by immigration issues.
Dan Bayers, Vice President of the US Chamber, Climate and Energy, stressed the connection between a secure energy supply and an awareness of our energy demands, requesting businesses and governments to work closer together.
Curtis Dubay, Chief Economist, reassured attendees about the economy’s strength, with Q1 growth at 1.1% and an annual forecast of 0.7%. While a mild recession may occur, job openings will help keep it in check. Dubay also discussed the gradual decline of US inflation from 9.1% to 5.0%, cautioning that the Inflation Reduction Act might need to be more effectively addressed the issue.
John Murphy, Senior Vice President of International Policy, provided encouraging evidence of employment creation and growth in income. He emphasized the absence of signed agreements on trade and questioned the emphasis on The Buy American Act.
The ACE team also met with Marisa Lago, Undersecretary of Commerce, and David De Falco, Deputy Assistant Secretary, at the prestigious US Department of Commerce. The conference was a productive discussion of ideas, emphasizing the importance of strengthening the links between the corporate and government sectors.
The evening concluded with a memorable reception at the Greek Ambassador’s Residence, fostering connections and further discussion.