The European Commission has begun an official assessment of the consequences of the US presidential election in November 2024, in particular, what a potential presidency of Donald Trump could be in case of his re-election. This is reported by the Bloomberg news agency, citing sources.
“The EU is working on an official assessment of what a Donald Trump presidency would look like, planning how to respond to any punitive trade measures that would hit the bloc if he wins the U.S. election,” the publication says.
According to Bloomberg, the European Commission in its assessment of the consequences of the US election is focusing on a scenario in which Donald Trump emerges as the winner. As explained by a senior EU official, the style of the former President of the United States is becoming “increasingly aggressive”, and EU member states share the view that his return to the White House could lead to another escalation of trade across the Atlantic Ocean.
For example, Bloomberg has learnt that Trump’s campaign plans to take a series of protectionist measures against the European Union if he wins, including the introduction of a minimum tariff of 10% and countermeasures against European taxes on digital services.
As the agency recalls, under the Trump presidency, the US imposed tariffs on steel and aluminium from the EU, citing national security concerns. The EU responded with its own countermeasures, and in 2021 reached a “temporary truce” on the issue with the Joe Biden administration.
We shall remind you that earlier The Politico newspaper mentioned that the 50bn-euro financial aid to Ukraine allocated by the European Union, divided until 2027, looks more like a “pittance”.