Accounting for 23 percent of GDP worldwide, the United States has dominated the global economy for over 70 years. However, the US attitude towards trade policy has changed significantly since the new administration took office. President Donald Trump has removed the United States from the Trans-Pacific Partnership (TPP), slowed the progress of the Transatlantic Trade and Investment Partnership (TTIP), and called into question the benefits of the North American Free Trade Agreement (NAFTA).

With these notable changes in policies, the United States is no longer situated at the forefront of international trade, and in its absence the European Union has stepped in.