European leaders are bracing themselves for a potential return of American protectionism, regardless of who wins the upcoming U.S. elections between Vice President Kamala Harris and former President Donald Trump. This comes as trade relations between the EU and the U.S. are crucial for both parties, with a trade volume of 1.2 trillion euros in 2021.
The prospect of an “America first” policy under a Republican presidency has raised concerns among European officials, as Trump has previously threatened to impose tariffs on European goods. The impact of such measures could weaken the euro and strain the bloc’s exporters, according to experts.
Despite the uncertainty surrounding the election outcome, European leaders are taking a pragmatic approach and preparing for all scenarios. The European Commission is working on bold initiatives to enhance the Union’s competitiveness and economic resilience, regardless of who takes office in the White House.
In light of the upcoming U.S. elections, there are mixed reactions among EU national leaders. While Hungary’s Prime Minister Viktor Orban has expressed his enthusiasm for a potential Trump victory, other officials remain cautious and concerned about the implications for Europe.
As the election results draw near, EU leaders are set to meet in Budapest to discuss the outcome and its potential impact on European interests. The close race and uncertainty surrounding key battleground states like Pennsylvania have left European officials on edge, emphasizing the need for strategic autonomy and increased defense spending in the region.
Overall, the looming specter of American protectionism has put European policymakers on high alert, as they navigate the complex transatlantic relationship in the face of evolving global dynamics. The outcome of the U.S. elections will undoubtedly shape the future of EU-U.S. trade relations and set the tone for international cooperation in the years to come.
