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US President Donald Trump delivers a speech on artificial intelligence infrastructure in the Roosevelt Room of the White House in Washington, US, on January 21, 2025.
Carlos Barria | Reuters
Politicians from around the world gathered Wednesday for the second day of the World Economic Forum in Davos, Switzerland, and there was one name on everyone’s lips: Donald Trump.
Upon being sworn in as US president on Monday, Trump’s proposed tariffs on Europe were a particularly hot topic.
Speaking to CNBC, here’s what European policymakers had to say about what four more years of Trump could mean for the United States’ relationship with Europe.
Pedro Sánchez, Prime Minister, Spain
“We share a strong transatlantic bond… our economies are very interconnected and I believe that a trade war is not in the interest (of either party), neither of the United States nor of the European Union,” Sánchez said. told CNBC’s Steve Sedgwick outside the event.
“A trade war is a kind of zero-sum game. We need to focus on how to strengthen our transatlantic relationship, which is now more important than ever.”
Christine Lagarde, president of the European Central Bank
lagarde welcomed the fact that Trump did not impose blanket tariffs on the EU on his first day in office.
“I think it’s a very smart approach to trade, because blanket tariffs don’t necessarily give the results that you expect. I’m not sure exactly what result is expected, whether it will be a transactional tool, whether it will be a pure commercial tool, but I don’t think so.” I’m surprised,” he told CNBC’s Karen Tso.
“It doesn’t mean it won’t happen. I think it will be a more selective and focused development that we will see in the coming days or weeks. But I think what we have to do here in Europe is be prepared and anticipate what will happen so we can respond.”
Alexander Stubb, President, Finland
“I take comfort in the fact that President Trump wants the United States to remain a superpower, and that requires allies, and I think those allies come from Europe. So even though the United States comes first, maybe it should be Europe second.” , which is fine,” Stubb told CNBC’s Dan Murphy.
“I also take comfort in the fact that he is a man of peace. (He) just forged peace in the Middle East and I think he is going to try to do the same in Ukraine. Then there are, of course, things that we find problematic, such as trade tariffs, but we’ll see how we deal with that.”
Laurent Saint-Martin, Delegate Minister of Foreign Trade, France
As for the impact of the tariffs, Saint-Martin said: “For now, there are no new tariffs, so we’ll see.”
“We know that Donald Trump, during his first (term), President Emmanuel Macron worked closely with him, he remains an ally. Europe and the United States are friends, but we have to be realistic and pragmatic: if there are new tariffs, we will have to respond “he added.
“I think Trump’s election can be a real opportunity for us… but if tomorrow there were new tariffs, if there were some countries, say the United States or China, that no longer wanted to play by the rules, then we will have to do it. “No We may be the last continent in the world to follow rules that no one follows.”
Wopke Hoekstra, European Commissioner for Climate, Net Zero Emissions and Clean Growth
Hoekstra said we will ‘miss’ America after Trump Withdrew the United States from the Paris Agreement — the historic UN agreement aimed at reducing global warming.
“It’s unfortunate. Not entirely unexpected, but unfortunate…given the critical role the United States is playing on the global stage,” he said. “It’s the largest economy, it’s the most dominant power, it’s the second largest emitter. So to lose them in the cycles of international diplomacy when it comes to climate is unfortunate,” he said.
Valdis Dombrovskis, EU Commissioner for the Economy
“If it is necessary to defend our economic interests, we will respond proportionately,” Dombrovskis said. told CNBC’s Steve Sedgwick. “We are ready to defend our values and also our interests and rights if necessary.”
Elisabeth Svantesson, Minister of Finance, Sweden
“There’s been a lot of attention on tariffs. Tariffs are bad if they go up… but whatever we do, we have to do it together,” he said. “Sweden depends a lot on exports. So, of course, if more and more countries (impose) more protectionism, it’s bad for us, but it’s also bad for the global economy. It’s not so good for the United States if they have high tariffs . when it comes to Canada, for example, or Europe.”
On defense spending, Svantesson added: “We have to do more in Europe. When it comes to Ukraine, it’s an existential issue. So I hope the United States doesn’t back down, but if they do, we have to be strong.”
Andrii Yermak, head of the Office of the President of Ukraine
“I believe in America. I believe in the American people. President Trump is elected American president. He is a guarantor of democracy, and (the United States is) the largest democracy in the world,” Yermak told CNBC’s Steve Sedgwick, when was asked about Trump’s decision. desire to end the war between Ukraine and Russia.
“I don’t think an American president would be in favor of autocracy and not democracy. We want to work with President Trump and his administration,” he added. “I am sure that we will find real solutions and decide together how (to make) these solutions become a reality.”
