The European Union is working on a formal assessment of what President Donald Trump's term will be like, and how he will respond to punitive trade measures that would hurt the region if he wins the U.S. presidential election. We are planning to respond to this.
The European Commission, the European Union's executive arm, has begun preparing an impact assessment of the November vote, with particular attention to a scenario in which Trump is the winner, the people said.
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The former president's style has become increasingly aggressive, and there is a feeling among EU member states that he will take coercive measures such as tariffs against the EU in his next term, according to a senior official with knowledge of the preparations. It is said to be generally accepted. The official, speaking on condition of anonymity, added that it was the duty of EU member states to prepare for future events.
President Trump's team may be planning a series of actions against the EU, including widespread tariffs of at least 10% and European Bloomberg reported early Wednesday that it could include measures to counter the digital services tax.
Last time, Trump attacked the World Trade Organization, questioned European security, called Brussels a “hellhole” and shook the foundations of transatlantic relations. A January Bloomberg News/Morning Consult poll found that presidential candidate Biden won the first two Republican primaries and won seven battleground states that are likely to decide the 2024 election. He leads Joe Biden by an average of 6 points.
The two countries remain at odds over EU steel and aluminum tariffs imposed by Trump during his first term as president, citing concerns about U.S. national security. The bloc retaliated with its own countermeasures and reached a temporary truce with Biden in 2021.
But the EU says the current situation remains unfair, with exporters in the region paying more than $350 million a year in duties. But EU member states have been reluctant to respond to the situation by reimposing tariffs on U.S. goods, fearing it could help Trump's electoral chances.
Potential measures against Europe would work as part of a broader effort to overhaul U.S. trade in goods. The country has long had a large deficit with the EU, with an imbalance exceeding $200 billion in 2023 for the third consecutive year. Trump advisers have argued that this pattern is an example of unfair trade practices.
Some European officials are taking tentative steps toward a charm offensive to avoid transatlantic hostility during Trump's first term. German officials, including Foreign Minister Annalena Verbock, have already begun lobbying Republicans. In September, she traveled to Texas and Washington state and met with many Trump supporters.
He told Bloomberg last year that Europe must be ready to work with Trump if he wins, and that it would be “naive” not to prepare for such an outcome.
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Annalena Barbock served beer behind the bar during a visit to Back Porch Barbecue and Grill in La Grange, Texas.Image: Arne Delfs/Bloomberg
While Mr. Biden's rhetoric may be more conciliatory than Mr. Trump's, and his cooperation with the EU on Ukraine has helped mend transatlantic relations, EU officials say Mr. Biden's trade policy remains similar to his predecessor. We are aware that there are many similarities with the “America First'' approach of “America First.''
European countries in particular were shaken by Mr. Biden's $390 billion-plus subsidy program to support green technology, which would incentivize companies to move investments from Europe to the United States.
Mr. Bourbock's boss, German Chancellor Olaf Scholz, has publicly said he wants Mr. Biden re-elected. Mr. Trump, by contrast, represents a “great division” in the United States, which would also be bad for Germany, Mr. Scholz said last year. “I want the current president to be re-elected because he is better,” he said.
Corporate leaders are also sounding the alarm. Deutsche Börse CEO Theodor Weimer said Europe could only hope that the U.S. legislative system would provide “strong checks and balances” regarding Trump's possible return. Ta. as needed.
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