The European Union under a Second Trump Administration

→ The Trump administration views the EU as a commercial and political rival, exercising transactional isolationism and tariffs that threaten a rules-based international order.

→ To reduce risks, the EU must deepen internal integration (banking union, capital markets union, fiscal union) and issue joint debt to finance security, defense, and infrastructure, thereby enhancing economic resilience.

→ The EU is called to lead a new international economic order based on norms, leveraging its regulatory power and soft power, while strengthening the euro and financial instruments against U.S. protectionism.

Photo: Shealah-Craighead