Europe should mind its own business rather than fear Trump's return to the White House.

The prospect of a second term for Donald Trump has worried officials in EU capitals since it became clear that the 77-year-old politician would run for the White House again.

The reason for concern is that Mr Trump could then disrupt trade and withdraw US support for European security efforts.

Earlier this week, Belgian Prime Minister Alexander De Croo warned that Europe must be ready to stand firm if Mr Trump returns to the White House later this year.

“If 2024 brings us another ‘America First’ moment, then more than ever Europe will have to stand on its own two feet,” Mr. De Croo warned in a speech to the European Parliament, at the start of a year when both EU and American citizens go to the polls to elect new leaders.

“As Europeans, we should not fear that prospect; we should face it,” Mr. De Croo argued, saying that Europe must become “stronger, more sovereign, more autonomous.”

Unlike the Belgian Prime Minister, the President of the German Central Bank (Bundesbank) Joachim Nagel believes that it is better for Europe to focus its efforts on strengthening its own economy instead of obsessing over the US election results.

Asked whether governments across the “old continent” should prepare for another Trump presidency, Mr Nagel said: “Believe it or not, I don’t think that’s the point.”

World - Europe should mind its own business rather than fear Mr. Trump's return to the White House — Image of fruit at a discount counter in Frankfurt, Germany, September 28, 2023. Photo: Fox5

“We have to look at ourselves,” the head of the central bank of Europe’s largest economy said on January 17 in Davos, where he is attending the 54th annual meeting of the World Economic Forum (WEF).

“We have to improve Europe’s resilience and make it stronger, and then we will be ready next year when we know who the next US president will be,” Mr. Nagel said.

In the latest development related to the US presidential election that has many people in Davos worried, Mr. Trump won a resounding victory in the internal primary election in the state of Iowa, consolidating his position as the leader of the Republican Party in the final nomination race to move on to the rematch with the incumbent President of the Democratic Party, Mr. Joe Biden.

European Central Bank (ECB) President Christine Lagarde has stressed that the possibility of Mr Trump returning to power in 2025 could jeopardise global trade, support for Ukraine and the fight against climate change.

“We are all concerned about that because the United States is the largest economy, the largest defense nation in the world and the beacon of democracy,” Lagarde told Francine Lacqua at Bloomberg House earlier on Jan. 17. “We have to be extremely attentive.”

The eurozone is struggling even without further political uncertainty in the US. The economy likely slipped into recession in the second half of last year and there is little confidence in a strong recovery.

Economists predict eurozone growth of just 0.6% this year, while Germany is even worse at just 0.3%. But Mr Nagel said his country was certainly not the “sick man of Europe”.

“We have some problems but we recognise what is needed to be fixed,” he said. “We are expecting more from Germany . ”

Minh Duc (According to Bloomberg, Politico EU)

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