2024 in Review: A Transatlantic Wrap-Up

2024 was a busy year for the transatlantic relationship, with elections, legislation, delegations and more! Here are some of our most notable events and achievements of the past year:?

1. European Parliament elections?

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On June 6-9, the European public voted for Members to represent them in the European Parliament and shape the future of European democracy. These members will sit for a five-year term, scrutinize the European executive, adopt legislation and agree on the annual budget.??

At the first plenary (16-19 July), the Parliament re-elected Roberta Metsola as President of the European Parliament and decided on the vice-presidents and quaestors as well as the number of MEPs sitting in each parliamentary committee. MEPs also voted to re-elect Ursula von der Leyen to be President of the European Commission. This fall, MEPs assessed candidates for the College of Commissioners through public hearings. The new Commission (von der Leyen II) secured Parliament approval in a plenary vote to take office on 27 November and begun their terms on 1 December 2024.??

2. Championing Ukrainian resistance?

Continuing support for Ukraine in the face of Russia’s war of aggression was a highlight of parliamentary activity this year. President Metsola and the leaders of all political groups of the European Parliament in a statement adopted on the 1000th day of Russia’s invasion of Ukrainian territory stated. “We stand firm in our call for the European Union to show courage, resolve and vision at this crucial moment: stepping up support for Ukraine in every way, including politically, financially, militarily and with humanitarian aid.”?

In addition to pursuing further sanctions against key Russian economic sectors and actors, the Parliament has worked to support the Ukrainian economy through temporary trade liberalization measures that suspend import duties and quotas on Ukrainian agricultural products. MEPs also called for EU member countries help curb the ‘shadow fleet’ of Russian oil tankers who seek to avoid international sanctions by sailing without proper registration by increasing monitoring and inspections and banning the import of Russian fossil fuels.?

MEPs have also called for EU countries to lift current restrictions hindering Ukraine from using Western weapons systems against legitimate military targets in Russia, an action taken by the United States on 18 November 2024.?

3. Paving the way for a transparent and competitive Artificial Intelligence sector?

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The AI Act adopted by the European Parliament on 13 March 2024 is the world’s first legally binding regulation on artificial intelligence. The act aims to protect fundamental rights, democracy, the rule of law and environmental sustainability from high-risk AI, while boosting innovation and establishing Europe as a leader in the field. The regulation establishes obligations for AI based on its potential risks and level of impact, such as banning applications that could violate citizens’ rights such as predictive policing or manipulating human behaviour.?

This regulation will have considerable impacts on world and US markets, as any companies that provide products to European citizens or that can be used in the European Union will be required to conform to the regulations. Several proposed American legislations have mirrored sections of the AI Act, but what comprehensive American legislation may look like in the future is still up in the air.??

"We are in line with many issues that are in the voluntary commitments we see all over the world, but also in the U.S.," said Brando Benifei, co-rapporteur for the AI Act and Chair of the European Parliament Delegation for Relations with the United States. "But we put it in a law so that it's not a voluntary commitment."?

4. Boosting European manufacturing of key decarbonisation technologies?

In March, the European Parliament approved the Net-Zero Industry Act to bolster EU production in technologies needed for decarbonisation. The Act sets a target for Europe to produce 40% of its annual deployment needs in net-zero technologies by 2030, based on National Energy and Climate Plans (NECPs) and to capture 15% of the global market value for these technologies.??

The Act aims to promote European industry and increase competitiveness in key sectors that support the green transition. Technologies supported include all renewable technologies, nuclear, industrial decarbonisation, grid, energy storage technologies, and biotech. The act simplifies the permitting process, setting maximum timelines for projects to be authorised depending on their scope and output.?

The Act also sets out regulations that foreign companies must follow environmental standards laid out in the Net-Zero Industry Act to land contracts with the European Union.?

5. Keeping transatlantic ties strong?

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Despite elections taking place in the US and the EU, legislators still found time to connect and reaffirm the importance of the transatlantic relationship in the Transatlantic Legislators’ Dialogue (TLD).??

Members of the European Parliament and the US House of Representatives met on 4 and 5 April 2024 at the European Parliament's premises in Brussels for the 88th Inter-Parliamentary Meeting of the Transatlantic Legislators' Dialogue. The 89th EU-US Inter-Parliamentary Meeting of the Transatlantic Legislators Dialogue took place on 8 and 9 November 2024 in Fort Worth, Texas.?

In both meetings, representatives from the US House of Representatives and the European Parliament emphasized on the need for stronger transatlantic cooperation to tackle rising geopolitical, economic, and digital challenges that the world currently faces. These exchanges provided opportunities to build stronger connections not just among TLD participants themselves but also with local legislators, civil society actors, academics, and business owners.??

Looking ahead to the next year?

In 2025, both new European and American legislations will take the helm and steer the next chapter of the transatlantic relationship. With rising geopolitical, economic, and security threats, ongoing EU-US dialogue remains crucial.??

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Thank you and happy holidays from the EPLO DC team!?