FT News Briefing Swamp Notes: Europe in the age of America First
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Dec 14, 2024 
Join Andy Bounds, the Financial Times' EU correspondent, as he delves deep into Europe's evolving stance on U.S. trade policies under Donald Trump. They discuss how the EU is bracing for potential economic confrontations, especially amid recent tariff threats. The conversation also explores Europe’s strategies to enhance competitiveness while navigating transatlantic frictions. Bounds highlights the significant trade deal with Mercosur and Europe’s response to an increasingly assertive U.S. industrial policy, raising essential questions about global power dynamics.
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Trump's Trade Irritants
- Trump's potential trade policies towards Europe include addressing outstanding irritants like steel and aluminum tariffs.
- He also dislikes the digital services tax and the EU's carbon border adjustment mechanism.
EU's Preparedness for Trump
- The EU is now more prepared for Trump's transactional approach to trade.
- They understand he uses tariffs as leverage and are exploring ways to offer deals that allow him to claim victory.
EU's Challenges
- The EU aims to boost innovation, competitiveness, decarbonization, and defense capabilities.
- However, implementing these goals is challenging due to the need for 27 member states to collaborate effectively.