Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
US President Donald Trump delivers remarks on AI infrastructure in the Roosevelt Room of the White House in Washington, US on January 21, 2025.
Carlos Barria | Reuters
the president of the usa Donald Trumpof “First America” raises the agenda awkward questions For the European Union, even some members of parliament say that Trump’s return to the White House could be a “real possibility” for the 27-nation bloc.
Trump promised a new “golden age“In his opening speech for America on Monday, he again and again He threatened to impose tariffs on goods imported from the EU to the US, sparking fears of a potential trade war.
Speaking to reporters earlier this week, Trump said the EU “has been very, very bad for us. So they’re going to put tariffs in. It’s the only way … you’re going to get fairness.”
His comments come as the new US administration considers imposing one 10% additional fee On goods imported from China, starting next month.
EU officials, some of them he fought With Trump’s confrontational style during his first four years in office, it has been suggested that his return to office could be positive for the bloc this time around.
Laurent Saint-Martin, France’s Minister Delegate for Foreign Trade and a French citizen abroad, has described Trump’s election victory as a “real opportunity” for Europe.
“We have to stick together, this is very important,” Saint-Martin told CNBC’s Dan Murphy at the World Economic Forum (WEF) in Davos (WEF) on Wednesday.
Ursula von der Leyen, President of the European Commission, during a press conference after a meeting of the Christian Democratic Union party in Berlin, Germany, Monday, February 19, 2024.
Bloomberg | Bloomberg | Getty Images
“Europe is a very strong continent in terms of industry, in terms of savings, in terms of purchasing power, in terms of the single market. So what we need now is to create more unity and also defend our values.” said Saint-Martin.
“But don’t be naive, there is probably a new shape of the world and trading systems for tomorrow, so we have to be ready to change, but first we have to unite,” he continued.
“You know, Donald Trump’s first term was kind of an opportunity for Europe to be together in defense… Now I think it’s time to be more united in industry and trade.”
Business leaders, meanwhile, have expressed mixed feelings about Trump 2.0.
Richard Edelman, CEO of global communications firm Edelman, suggested Trump’s return could be a “shot in the arm” for businesses, while ING CEO Steven van Rijswijk told CNBC that the US president’s inauguration should be a “call to Europe”. .
“America first” and Europe second?
It is a transatlantic economic relationship considering it is very important for both Washington and Brussels, as the two economies share the largest bilateral trade and investment relationship in the world.
To counter Trump’s tariff threats, Finnish President Alexander Stubb said it will be important for Europe to “take it one day at a time”.
Finland’s President Alexander Stub speaks as he arrives for the 2024 NATO summit on July 10, 2024 in Washington.
Andrew Harnik | Getty Images News | Getty Images
“In foreign policy, you always have to react to a given situation, especially when you come from a small state, and you realize you’re working with the president of the biggest superpower in the world,” Stubb told CNBC’s Steve Sedgwick. WEF on Wednesday.
“Now, of course, I take comfort in the fact that Donald Trump wants to keep the United States and keep the position of a superpower, and for that you need allies, and I think those allies come from Europe,” Stubb said.
“So, if I simplify a little bit, while it’s ‘America First,’ maybe Europe should be second, and that’s pretty good,” he added.
“Zero Sum Win”
Polish Finance Minister Andrzej Domanski said on Wednesday that Europe’s “best response” to any potential tensions with the US is to restore competitiveness and strengthen the economy.
“We know how to do it, and we’re going to do it step by step,” Domanski told CNBC at the WEF’s annual meeting.
“Our Polish relations with the U.S. are very, very good, and, as you said, we’re buying a lot of U.S. military equipment, tanks, fighter jets. Actually, you name it, we buy it,” Domanski said.
“But, as the European Union, of course we have to unite and we will continue our relations with the USA”, he added.
Separately, Spanish Prime Minister Pedro Sanchez said on Wednesday that Spain and Europe should focus on how to strengthen the transatlantic, warning that a future trade war with the US is a “zero sum gain”.
“We share a strong transatlantic bond … our economies are very connected, and I think a trade war is not in the interest (of either side), not the US, not the European Union,” Sanchez told CNBC.
“A trade war is a kind of zero-sum win,” he added. “Now more than ever we have to look at how we strengthen our transatlantic relationship.”
— CNBC’s Holly Ellyatt contributed to this report.
