Europe warily eyes changes under incoming Trump administration

CGTN Europe

The new U.S. President may well do things very differently – and Brussels is preparing to change tack accordingly. CGTN's William Denselow reports from Brussels.   #trump #eu  Read more ⬇️ https://tinyurl.com/56wvaz5j

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00:00It's the largest bilateral trade and investment relationship in the world. Trade between the

00:06U.S. and EU stands at roughly $1.5 trillion per year. But incoming President Donald Trump

00:13claims Washington's getting a bad deal. He's threatened tariffs unless Europe reduces the

00:19trade deficit and buys more U.S. oil and gas. The EU's trade surplus for goods stood at

00:25over $150 billion in 2023, but officials say that doesn't tell the whole story. The

00:33EU has a substantial trade in goods surplus with the U.S., whereas the U.S. has a substantial

00:40trade in services surplus vis-a-vis the EU. Donald Trump's also threatened tariffs on

00:47EU member state Denmark unless it gives up the autonomous territory of Greenland, citing

00:52national security concerns. EU officials say such threats are purely hypothetical,

00:59and Commission President Ursula von der Leyen says she's looking forward to a positive engagement

01:06with the incoming administration. But that might come at a price. Trump has called for

01:12NATO allies in Europe to boost spending on defence to 5% of GDP, compared to the current

01:182% benchmark. We've been derelict in terms of what we've spent on defence, and I think

01:23what Trump has said, not unreasonably, is that if you expect us to support you, if you

01:27expect the American and Braille to still be in place, the least you can do is pay for

01:31the supports. Trump assumes the presidency with war still raging on Europe's doorstep.

01:37Incoming U.S. administration has called for a quick resolution to the conflict in Ukraine,

01:41and the EU says it's willing to step up if Washington isn't willing to continue its leadership

01:47role. But Ukraine's president has urged Trump to maintain support for Kyiv. President Trump

01:54is a strong man, and I want very much to have him on our side. For me, it's very important.

02:01I want to discuss with him more details about this war. With the promise of carrying out

02:06an America First agenda, the international community is bracing for a more protectionist

02:11president. French President Emmanuel Macron has warned that a world of trade wars could

02:16be approaching, chiefly between the U.S. and China. He calls it a moment of acceleration,

02:23and the EU will have to buckle up. William Denslow, CGTN, Brussels.

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