The European Union is ready to face a shock by accepting that Donald Trump has everything in his favor to reach the White House. What’s more, EU officials are holding daily meetings to outline where a Trump presidency could cause the bloc the most pain, people familiar with the talks said.
One of the countries that will be most affected is Spain, the Achilles heel of the European Union. The high command understands that being the country least close to Trump’s policies, this would be the entry of an economic shock and sanctions by the United States to the entire European Union.
Despite the fear, the European Union also does not dare to talk at all about “capital flight” to other parts of the globe, even to Latin America, but they prefer to keep it under wraps.
The war with Ukraine also makes things difficult. That is why according to Financial Times “Topics under discussion included how to resist a barrage of trade tariffs, compensate for the end of US aid to Ukraine and maintain sanctions against Russia if Washington lifts its restrictions,” the London media said.
Another problem that would arise is that the euro would devalue against the dollar by more than 10% and Europe’s economic growth would be barely 1.5% at most.
Bloc officials are also deeply concerned about the possibility that the Trump administration will lift sanctions against Russia, according to the Times.
Although Charles Michel, president of the European Council representing EU member states, also accepted that with Kamala Harris, the situation with the European Union is also uncertain because there are no guarantees that she will continue with Biden’s policies.
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