Ahead of trade talks, Brussels seeks detail on firms’ US spending

European Union policymakers have asked the EU's leading companies and CEOs to swiftly provide detail of their U.S. investment plans, according to two sources familiar with the matter, as Brussels prepares for trade talks with Washington.

Members of the Confederation of European Business, also known as BusinessEurope, an alliance of 42 federations across the region, received a survey from the European Commission on Monday. It requested information on upcoming U.S. investments with an instruction to respond as soon as possible, one source said.

A similar note seeking information on investment plans for the next five years was sent to the 59-person European Roundtable for Industry, a second source said, with a note that the request came personally from European Commission President Ursula von der Leyen.

The roundtable's members include the CEOs of companies ranging from chip equipment maker ASML to chemicals group BASF to software company SAP, as well as automakers BMW and Mercedes-Benz.

BusinessEurope's members include employer and industry associations representing an equally wide range of companies, notably Germany's auto sector, as well as the aerospace and pharmaceutical industries.

BusinessEurope confirmed it had been contacted to assist with collecting the most recent data on European investment in the U.S. to demonstrate the importance of EU-U.S. economic ties.

The European Roundtable for Industry did not immediately respond to a request for comment, while the Commission declined to comment.

The sources asked not to be named because they were not authorised to speak publicly on the issue.

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The Commission, which oversees trade policy for the 27-nation European Union, is stepping up efforts to secure a deal with the United States to end U.S. import tariffs on EU goods, or at least prevent any increases.

The Commission is trying to establish what might satisfy U.S. President Donald Trump, having offered a deal in which both sides move to zero tariffs on industrial goods, and the EU buys more soybeans, arms and liquefied natural gas.

Trump has made clear a chief goal of his tariffs is to re-industrialise the United States, towards which European corporate investment could contribute.

Some of the biggest investment announcements from Europe so far have come from the pharmaceutical sector, with Swiss pharma companies Roche and Novartis pledging $50 billion and $23 billion respectively. France's Sanofi has said it wants to invest at least $20 billion through 2030.

However, further plans are under threat by Trump's executive order on drug pricing, Roche flagged earlier in May.

At least seven other European companies have said they would increase investments in the U.S., but gave no specific details on spending plans, a Reuters review of releases and executive comments on earnings conference calls over the last two months shows.

A survey by Germany's Chamber of Commerce and Industry this month found that 24% of companies planned higher investments in the U.S. in the coming year, but 29% were reducing their investments.

An industry association source speaking on condition of anonymity said the uncertainty caused by Trump's volatile policy announcements had reduced interest in U.S. investment.

Italian tyre maker Pirelli said it had to suspend its plans to invest further in the U.S. as it needed to ease tensions with Chinese state-owned group Sinochem, one of its major shareholders.