Tariffs that change from one week to the next, political instability, armed conflicts: on paper, everything should be slowing European companies down in the United States. The opposite is happening.
That is the finding of the new Transatlantic Expansion Barometer, released on September 29, 2026 by the European American Chamber of Commerce (EACC France) with RSM and OCO Global, and covered this week by the French trade publication Le Moci. European appetite for the US market is not fading, to the point that the authors now worry about Europe’s ability to keep investment at home.
A long-term trend, not a fad
The Barometer’s figures show a flow that clearly runs one way:
- +19% European direct investment into the US between 2022 and 2024, versus −35% for US investment into Europe over the same period.
- 680 European projects announced in the US in the first half of 2026, worth $17 billion, versus 539 US projects in Europe.
- 141 more projects going Europe → US than the other way this half-year. The gap has held since 2023.
New entrants now account for almost one industrial project in two. The leading sectors are industrial equipment, then software and IT services, professional services and food.
Top European investors in the US (H1 2026)
| Country | Projects | Share |
|---|---|---|
| Switzerland | 152 | 22% |
| United Kingdom | 139 | 20% |
| Germany | 92 | 14% |
| France | 81 | 12% |
| Spain | 33 | 5% |
The map is shifting too. New York, Massachusetts and California attract less. European companies are moving into the Midwest, the South and the Mountain states: year on year, projects are up 46% in Texas, 51% in Florida and 82% in North Carolina.
Why the US? Executives first cite market size (28%) and existing demand (20% already had customers there). But the most direct trigger is the customer: companies cross the Atlantic to stay close to large US accounts and meet local-content requirements.
According to the authors, tariffs delayed decisions and froze some projects, but European investment did not collapse. It stabilized. Their conclusion: the US pulls harder than Europe pushes away.
What this means for a European SME or mid-size company
If your competitors keep moving into the US while you wait for “a clearer picture,” the gap widens. Tariffs can be managed (pricing, local structure, production, partners). A seat at a US customer’s table taken by a competitor is much harder to win back.
So the real question is no longer should we go? but how do we go without burning budget and time? Three mistakes come up again and again:
- Hiring too early: a US sales lead brought on before the market is validated.
- Aiming too wide: instead of one segment and one precise customer profile.
- Waiting for trade shows: instead of building a pipeline of qualified meetings now.
Our approach at Gershon Consulting
Since 2013, Gershon Consulting has helped European companies enter the US market. We define your ideal US customer with you, generate qualified meetings with those decision-makers through LinkedIn and outbound, and provide on-the-ground commercial representation. That is exactly the trigger the Barometer points to: being in front of large US accounts. You test the market through real customer conversations before committing heavy investment.
Planning your US expansion? Book a call with us: gershonconsulting.com/calendar
Sources: Transatlantic Expansion Barometer 2026 and 2025, EACC France / RSM / OCO Global; Le Moci, October 6, 2026. Also available in French.
