The ‘Fair and Reciprocal Tariff Plan’ proposed by Donald Trump sounds innocuous but is a roadmap towards an all-out global trade war. To avert one, Europe must act firmly and speedily.
Geopolitical rivalries threaten the legal order on which European trade depends. To maintain its influence and secure its trade relations, the EU must maintain its openness and build alliances.
The EU should reinforce the World Bank and International Monetary Fund to stave off a destabilising financing crunch for many emerging and developing economies.
The populist right and far right will not dominate the new European Parliament. But the election results will influence the EU’s agenda and legislation over the next five years.
The EU should revamp its industrial policy for clean technologies not to cede leadership in clean tech manufacturing to China as Trump's America backtracks from decarbonisation goals.
Donald Trump’s America is an unreliable ally. Individual European states will be tempted to hope Trump attacks someone else. They must work together instead, to reduce their dependency on America.
Putin’s ‘election victory’ does not mean that he will remain in power forever. Western leaders should plan for continued confrontation, but (unlike Putin) they should not fear change in Russia.
