Transatlantic Growth Enterprise Act
The Transatlantic Growth Enterprise Act would create a new U.S. government program, the Transatlantic Growth Enterprise (TGE), designed to strengthen relations with a set of Central and Eastern European (CEE) countries and to deepen their economic ties with the United States. Led by the Secretary of State with involvement from the Development Finance Corporation (DFC) and other agencies, the program focuses on boosting business-to-business connections, expanding energy and security cooperation (including nuclear energy), promoting people-to-people ties, and countering malign influence from Russia and China. Participation is limited to “Enterprise countries” the Secretary designates, currently listed as the Czech Republic, Poland, Slovakia, Hungary, Romania, Moldova, Ukraine, and Bulgaria, with the possibility of adding other suitable nations. The bill requires regular meetings, sets a governance framework to avoid cooperation with adversaries or undemocratic actions, and mandates annual and energy-focused reporting to Congress. In essence, the bill aims to create a formal, U.S.-backed platform to cultivate economic growth, energy security, and democratic resilience in specific European partners, while building a counterweight to Russian and Chinese influence in the region. It authorizes targeted engagement and investments, subject to safeguards, and requires periodic evaluation and energy-sector analysis to inform future steps and funding needs.
Key Points
- 1Establishment of the Transatlantic Growth Enterprise (TGE): A government program led by the Secretary of State (in coordination with the DFC CEO) to strengthen relations and foster robust investment and energy security in participating Enterprise countries.
- 2Objectives focused on economic and security ties: Expand business-to-business ties, enhance energy sector cooperation (including nuclear energy), strengthen people-to-people connections, and improve security cooperation to counter Russian influence and the growing footprint of China in Enterprise countries.
- 3Eligibility and scope: Enterprise countries are currently the Czech Republic, Poland, Slovakia, Hungary, Romania, Moldova, Ukraine, and Bulgaria, with the possibility to add other Central and Eastern European countries deemed appropriate by the Secretary of State.
- 4Governance and safeguards: The Enterprise may engage only with counterpart governments that do not undermine U.S. interests, including not cooperating with Russia or China or signing agreements that would allow those countries to station police or military forces in the Enterprise country.
- 5Meetings and stakeholder engagement: The Secretary must convene stakeholders from participating countries (government, business leaders, civil society) at least twice per year to discuss goals and priorities.
- 6Reporting requirements: An implementation report due within 180 days of enactment and annually thereafter, detailing activities, diplomacy, progress toward objectives, and recommendations; energy strategy reports due within one year outlining energy cooperation, dependencies on Russia/China, opportunities, and funding/private-sector needs.