A survey conducted by the European Investment Bank from April to July 2025, encompassing about 13,000 companies, revealed that European businesses are effectively managing the heightened US tariffs, while the fragmentation of regulatory frameworks within the EU presents significant barriers to trade. In July 2025, the United States and the European Union reached a framework agreement, establishing a 15% import tariff on most goods from the bloc, half the initially threatened level but higher than the zero tariff Brussels had anticipated.

The impact of tariffs has largely been absorbed by American importers, and the burden on European exporters remains manageable, according to the report. EU companies have achieved a level of artificial intelligence adoption comparable to their American counterparts, positively impacting productivity. In contrast, US companies have shown greater concern over rising tariffs than their European colleagues.

Sixty-two percent of European companies reported facing barriers when exporting goods to other EU countries due to discrepancies in national legislation among the 27 member states. According to the IMF, these internal barriers are equivalent to a 44% tariff on goods and a 110% tariff on services. Eliminating fragmentation could increase the ratio of companies' investments to assets by 10%, especially concerning intangible assets.