Trump's potential return could spur EU defense and economic boost
The victory of Donald Trump could potentially drive the European Union to take essential steps toward strengthening its defense and economy, EU diplomats suggested in a conversation with the Politico portal.
- The return of Trump would be a beneficial shock that will enable the EU to move forward, like the pandemic or the energy crisis following the war in Ukraine, a high-ranking EU diplomat told Politico.
The portal's diplomatic sources stated that the victory of the Republican candidate would primarily impact the Union's defense policy. They believe that the announced withdrawal of the USA from NATO would increase pressure on Europe to raise its defense spending, potentially through joint bond issuance.
According to the diplomats, Trump's return to power could encourage Europe to bolster investment in the industrial sector and further integrate the common market. They explain that this could prevent the "decline" of the EU economy, a concern raised by Mario Draghi, the former head of the European Central Bank, in his report.
Europe should prepare for a big change
As predicted by the sources, Trump's victory could also strengthen the faction that supports a tougher stance toward China. Unlike Joe Biden, Trump might not shy away from putting the EU in a "us or them" situation. One of the sources noted that this scenario could help European Commission President Ursula von der Leyen overcome opposition from countries advocating for a more diplomatic approach.
However, regardless of the election outcome, Europe should work towards building its autonomy, Politico sources emphasized. "Europe should prepare for a big change in EU-U.S. relations, no matter who is elected," the portal wrote.
