The U.S. and the Netherlands share a history of partnership based on shared democratic values, with a growing trade and investment relationship in which two-way trade totaled more than $88 billion in 2021.
The U.S. shipped 9% of its exports of optical, medical, measuring or other instruments to the Netherlands. The Netherlands is the seventh-largest source of foreign direct investment in the U.S., according to a May 31 Department of Commerce news release.
“The Netherlands and the United States share a long history of partnership based on shared democratic values. We are NATO allies,” Deputy Secretary of State Don Graves said in an address at the Erasmus University Rotterdam, according to the release. “And our trade and investment relationship continues to promote economic growth and benefits workers in both of our nations.”
Recent events have shown how critical the Biden administration’s commitment to revitalizing America’s alliances around the world is, Graves said in the release.
“With Russia’s invasion of Ukraine, we are witnessing one of the greatest threats to European security since World War II. And with the COVID-19 pandemic, we continue to see disruptions in supply chains,” he said, according to the release.
The U.S.-EU Trade and Technology Council will be a key opportunity to continue efforts on export controls and supply chain issues, Graves said, the release reported.
“Through all this work, we’re building a more competitive and prosperous global economy for our nations’ families, businesses, and workers,” he said, according to the release. “And at the same time, together we can lead the world with our shared core values and secure the promises of democracy over autocracy.”
