EU Leaders Uneasy about Return of Donald Trump

By Staff, Agencies

Donald Trump's return to the White House has raised EU leaders' concerns about potential trade war consequences, potentially impacting the EU economy by up to 7% of global GDP.

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.

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 impact on the world economy could be up to 7% of GDP, causing substantial economic costs for everyone, including the US," EU Finance Commissioner Valdis Dombrovskis said.

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.

Moreover, 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.