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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
president of the united states donald trump‘s”America first“sets the agenda uncomfortable questions for the European Union, although some lawmakers say Trump’s return to the White House could be a “real opportunity” for the 27-nation bloc.
Trump, who promised a new “golden age” for the United States in his inaugural address on Monday, he repeatedly threatened to impose tariffs on goods imported into the United States from the EU, stoking fears of a possible trade war.
Speaking to reporters earlier in the week, Trump said the EU has been “very, very bad to us. Therefore, they’re going to face tariffs. It’s the only way… to get justice.”
His comments come as the new US administration considers imposing a 10% additional tariff on goods imported from China, potentially starting next month.
EU officials, some of whom fought With Trump’s confrontational style during his first four-year term, they have suggested that his return to office could be positive for the bloc this time.
Laurent Saint-Martin, France’s minister delegate for foreign trade and French people abroad, described Trump’s election victory as a “real opportunity” for Europe.
“We have to stay united, this is very important,” Saint-Martin told CNBC’s Dan Murphy at the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday.
Ursula von der Leyen, president of the European Commission, at a press conference after a meeting of the Christian Democratic Union party in Berlin, Germany, Monday, February 19, 2024.
Bloomberg | Bloomberg | fake images
“Europe is a very powerful 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.” Saint-Martin said.
“But don’t be naive, there is probably a new way of the world and business systems for tomorrow, so we have to be prepared to change, but first of all we have to be united,” he continued.
“You know, Donald Trump’s first term was kind of an opportunity for Europe to be united in terms of defense… Now I think it’s time to be more united in industry and trade.”
Meanwhile, business leaders have expressed mixed feelings about Trump 2.0.
Richard Edelman, chief executive 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 the decision inauguration of the American president should constitute a “wake-up call for Europe.
‘America first’… and Europe later?
The transatlantic economic relationship is considered of critical importance to both Washington and Brussels, as the two economies share the largest bilateral trade and investment relationship in the world.
Addressing Trump’s tariff threats, Finnish President Alexander Stubb said it will be important for Europe to “take it one day at a time.”
President Alexander Stub of Finland speaks as he arrives at the 2024 NATO Summit on July 10, 2024 in Washington, DC.
Andres Harnik | Getty Images News | fake images
“In foreign policy, you always have to react to a certain situation, especially when you come from a small state, and you realize that you are working with whoever is the president of the largest superpower in the world,” Stubb told Steve Sedgwick of CNBC on FEM on Wednesday.
“Now, of course, I take comfort in the fact that Donald Trump wants the United States to remain and retain the position of superpower and for that you need allies, and I think those allies come from Europe,” Stubb said.
“So if I may simplify a little bit, although it’s ‘America first,’ maybe it should be Europe second, which is pretty good,” he added.
“A zero-sum gain”
Poland’s Finance Minister Andrzej Domanski said Wednesday that Europe’s “best response” to any potential tension with the United States is to regain competitiveness and strengthen the economy.
“We know how to do it and we will do it step by step,” Domanski told CNBC at the WEF annual meeting.
“Our Polish relations with the United States are very, very good and, as you said, we are buying a lot of American military equipment, tanks and fighter planes. Actually, you name it, we buy it,” Domanski said.
“But, as the European Union, of course we must and will remain united in our relations with the United States,” he added.
Separately, Spanish Prime Minister Pedro Sánchez said on Wednesday that Spain and Europe should focus on how to strengthen the transatlantic relationship, warning that a potential trade war with the United States is “a zero-sum gain.”
“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 told CNBC.
“A trade war is a kind of zero-sum gain,” he added. “We need to focus on how to strengthen our transatlantic relationship, which is more important now than ever.”
— CNBC’s Holly Ellyatt contributed to this report.
