FX.co ★ Europe prepares for potential Trump presidency

According to Bloomberg citing multiple sources, European leaders are gearing up to confront Donald Trump in the event of his victory in the US presidential elections. Concerns within the European Union are escalating. Currently, the European Commission is analyzing the possible consequences of the US presidential elections. European leaders are focused on a potential scenario in which Donald Trump, the former American president, emerges as the winner of the upcoming elections. Preliminary assessments suggest that the ascent of this eccentric Republican could prompt the imposition of new tariffs targeting the EU. Against this backdrop, representatives of the euro bloc are contemplating retaliatory measures and exploring options for their implementation. According to several analysts, the behavior of the former US leader is becoming increasingly aggressive. In light of this, European countries should prepare for any developments, including unpredictable and adverse actions by the potential US presidential candidate. Notably, during his first term as head of state, Trump raised tariffs on imports of steel and aluminum products from the EU by 25% and 10%, respectively. The leadership of the European Union did not stand idly by and imposed retaliatory tariff measures on imports of certain American goods. These customs tariffs were partially lifted only after the inauguration of the new US President, Joe Biden. However, the situation is still considered unjust in the European Union. Currently, European exporters pay over $350 million annually in tariffs.