The first messages coming from European capitals look encouraging, with French President Emmanuel Macron and German Chancellor Olaf Scholz communicating yesterday and agreeing to work together for a more united, more sovereign Europe.
The communication was made in order to analyze the situation, as it is developing in transatlantic relations after the comfortable dominance of Trump, but also to coordinate the Franco-German axis, in view of the EU Summit, tomorrow in Budapest, where at the table of the leaders the burning issue of strengthening the competitiveness of the European economy will be found.
As EU sources in the Belgian capital point out, the coming months will be crucial for the future of the EU, given that Trump will also begin to open his cards on pre-election threats to impose tariffs on European exports. in the USA. It is certain, and this results from the temperament of Donald Trump, that there will be great friction in transatlantic relations, commercial and political.
And the question that will have to be answered is what Europeans will do. Former ECB president Mario Draghi has laid out detailed proposals for how the European economy will recover, but they go through greater EU integration. Greater integration in the single market, investment, capital markets, defense industry.
All this requires additional resources, which means that the member states have to increase the EU Budget. through joint borrowing. The Germans so far did not want to hear about new borrowing, now what will they do? They don’t have much choice because their exports will be targeted by Trump and if the Europeans don’t show up united, the Germans will be the big losers.
Yesterday’s public reaction from the Association of German Industry (BDI), which described Trump’s victory as a “wake-up call” for Germany and Europe, is impressive, warning of the danger of possible imposition of high tariffs on imports.
Trump’s victory may worry most capitals, but in Brussels they also characterize it as an opportunity, perhaps the last one, for Europeans to do what is required in the direction of unification.
In this context, the outcome of tomorrow’s discussion at the Budapest Summit is considered important. It is still too early for concrete decisions, but it will be seen from the conclusions that the leaders will publish how far they are willing to go in the direction of unification.
As for the official reactions of European officials, all were quick to congratulate Mr. Trump on his election and to point out the importance of transatlantic relations and the need for cooperation between the two sides, in the economy and in defense.
Von der Leyen: E.E. and USA are not just allies
As pointed out in her statement by the President of the Commission, Ursula von der Leyen, the E.U. and the US are not just allies, but linked by a meaningful partnership, which unites 800 million citizens. Let’s work together for a transatlantic partnership that will continue to deliver results for our citizens, he said, adding that millions of jobs and billions worth of investment on both sides of the Atlantic depend on the dynamism and stability of our economic relationship.
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#European #aftershocks #election #Trump
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