EU leaders uneasy about return of Donald Trump
The return of Donald Trump to the White House has sparked fresh concerns among EU leaders about the potential fallout from a trade war with the US, which could impact the EU economy by up to 7% of global GDP, equivalent to the combined economies of Germany and France.
Trade between the EU and US is worth €1.5 trillion annually so it is hardly surprising that many EU leaders are uneasy about the return of protectionist Donald Trump to the White House.
During every single day of the Trump administration, I will, very simply, put America first.
US President, Donald J Trump
EU finance ministers have convened in Brussels to discuss, among other topics, the potential fallout of a trade war with the United States.
The negative effect on the world economy could be up to 7% of the world GDP. This is like taking the German and French economy together out of the world economy. So there is substantial economic cost for everyone, including for the US.
Valdis Dombrovskis, EU Finance Commissioner
A record number of people in the EU now rely on food banks as the Euro zone economy falters.
Adding to their concerns, EU leaders are wary of Trump's close ties with fellow Euro skeptic billionaire, Elon Musk.
It seems there's no doubt that Donald Trump and Elon Musk are attempting to reshape global dynamics. Trump's return will test EU - US relations, while Musk's ventures will test Brussels regulatory strength.
Aside from politicians, many European citizens are also downbeat about Trump's return.
I think he's a lunatic.
EU Citizen 01
Yeah, I'm not sure. Like he's very inconsistent, racist, sexist.
EU Citizen 02
I don't think that much good will come (of this), but humanity seems to need this going downhill to be able to go up again.
EU Citizen 03
I'm really worried about European Union economic seriously. I don't know what we can expect tomorrow.
EU Citizen 04
Rather than confronting Trump, it's evident that EU decision makers are keen to avoid provoking him.
We will need to work together to avoid a global race to the bottom, because it is in no one's interest to break the bonds of the global economy.
Ursula Von der Leyen, EU Commission President
After cutting off Russia's cheap gas, the EU continues to grapple with soaring energy prices and a cost of living crisis, Trump's return only deepens the economic uncertainty.
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