U.S. President Donald Trump delivers remarks about AI infrastructure within the Roosevelt Room of the White Home in Washington, U.S., January 21, 2025.
Carlos Barria | Reuters
president of the usa Donald Trumpon “America first” agenda raises awkward questions for the European Union, though some lawmakers say Trump’s return to the White Home could possibly be a “actual alternative” for the 27-nation bloc.
Trump, who promised a brand new “golden age” for America in his opening remarks on Monday repeatedly threatened to impose tariffs on items imported into the US from the EU, fueling fears of a doable commerce warfare.
Chatting with reporters earlier within the week, Trump mentioned the EU had been “very, very dangerous to us. So they are going to impose responsibility. That is the one means … you will get justice.”
His feedback come as the brand new US administration considers imposing additional 10% tariff for items imported from China, most likely from subsequent month.
EU officers, a few of them was struggling with Trump’s confrontational fashion throughout his first four-year time period, recommend his return to workplace could possibly be constructive for the bloc this time round.
Laurent Saint Martin, the French minister-delegate for international commerce and French residents overseas, described Trump’s election victory as a “actual alternative” for Europe.
“We’ve got to remain collectively, that is essential,” Saint-Martin instructed CNBC’s Dan Murphy on the World Financial Discussion board (WEF) in Davos, Switzerland on Wednesday.
Ursula von der Leyen, President of the European Fee, at a press convention after a gathering of the Christian Democratic Union celebration in Berlin, Germany, Monday, February 19, 2024.
Bloomberg | Bloomberg | Getty Photos
“Europe is a really highly effective continent by way of business, by way of financial savings, by way of buying energy, by way of the one market. So what we’d like now could be to create extra unity and defend our values,” mentioned Saint-Martin.
“However do not be naive, there may be most likely a brand new form of the world and buying and selling programs for tomorrow, so we have now to be prepared for change, however above all we have now to be united,” he continued.
“You already know, Donald Trump’s first time period was form of a chance for Europe to be collectively on protection… Now I feel it is time to be extra united on business and commerce.”
In the meantime, enterprise leaders expressed blended emotions about Trump 2.0.
Richard Edelman, CEO of world communications agency Edelman, instructed Trump’s return could possibly be a “shot within the arm” for enterprise, whereas ING CEO Steven van Ryswyk instructed CNBC that the US president’s inauguration ought to symbolize a ‘wake-up name for Europe’.
“America first” — and Europe second?
Transatlantic financial relations are examined critically vital to each Washington and Brussels, with the 2 economies sharing the most important bilateral commerce and funding relationship on the earth.
Responding to Trump’s tariff threats, Finnish President Alexander Stubb mentioned it might be vital for Europe to “take it at some point at a time.”
Finnish President Alexander Stubb speaks upon his arrival on the 2024 NATO Summit. on July 10, 2024 in Washington, DC.
Andrew Harnick | Getty Photos Information | Getty Photos
“In international coverage, you all the time must react to a sure scenario, particularly once you come from a small nation and also you understand you are working with whoever is the president of the largest superpower on the earth,” Stubb instructed CNBC’s Steve Sedgwick. WEF on Wednesday.
“Now, after all, I take consolation in the truth that Donald Trump desires the USA to stay and keep its place as a superpower, and for that you just want allies, and I feel these allies come from Europe,” Stubb mentioned.
“So if I can simplify slightly bit, regardless that it is ‘America first’, possibly it ought to be Europe second, which is fairly good,” he added.
“Zero Revenue”
Polish Finance Minister Andrzej Domanski mentioned on Wednesday that Europe’s “greatest response” to any doable pressure with the US is to revive competitiveness and make the financial system stronger.
“We all know the best way to do it and we will do it step-by-step,” Domanski instructed CNBC on the WEF annual assembly.
“Our Polish relations with the US are very, excellent and, as you mentioned, we purchase numerous American navy tools, tanks, fighter planes. In reality, no matter it’s, we purchase it,” Domanski mentioned.
“However because the European Union, after all, we should and can stay united in our relationship with the US,” he added.
Individually, Spanish Prime Minister Pedro Sanchez mentioned on Wednesday that Spain and Europe ought to deal with the best way to strengthen transatlantic relations, warning {that a} doable commerce warfare with the US was “zero acquire”.
“We share a powerful transatlantic relationship … our economies are very interconnected and I consider a commerce warfare just isn’t in our curiosity [of either party]neither for the US nor for the European Union,” Sanchez instructed CNBC.
“A commerce warfare is a form of zero-sum win,” he added. “We have to deal with the best way to strengthen our transatlantic relationship, which is now extra vital than ever.”
— CNBC’s Holly Elliott contributed to this report.
