The European Commission has begun to assess the consequences of the US presidential election, with special attention being paid to the scenario in which Donald Trump wins. This was reported by Bloomberg, citing sources, UNN reports.
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The style of politics is becoming increasingly aggressive, and European countries should prepare, a senior official familiar with the preparations explained. Brussels is thinking about how to respond to any trade restrictions that the White House might adopt.
According to the agency, Trump is considering imposing new restrictions on trade with the EU if he returns to the White House. This includes the introduction of a minimum tariff of 10% and countermeasures against European taxes on digital services.
During his first presidential term, Trump raised duties on imports of steel and aluminum products from the European Union by 25% and 10%, respectively, to protect American industry.
The EU imposed tariff measures on imports of various goods from the United States. Shortly after Joe Biden became president, these tariffs were partially lifted.
The EU leadership believes that even after the abolition of some tariffs, the situation remains unfair: European exporters spend $350 billion annually on duties. Despite this, EU countries are reluctant to reintroduce retaliatory tariffs, fearing that this will add to Trump's popularity.
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Biden's actions are more peaceful, and cooperation in support of Ukraine has helped restore transatlantic relations, but European officials still believe that the current US president's trade policy still has much in common with Trump's "America First" motto, Bloomberg notes.
For example, the EU leadership was impressed by Biden's green technology subsidy program worth more than $390 billion, which gave companies an incentive to redirect investments from Europe to the United States.
In addition, the problems with congressional approval of aid to Ukraine, Israel, and other foreign partners raise concerns among European countries about how reliable the United States is, regardless of who is president.
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