Trump 2.0 raises uncomfortable political questions for Europe

President of the United States Donald Trump‘s “America first“raises the agenda uncomfortable questions for the European Union, although some lawmakers say Trump’s return to the White House could be a “real possibility” for the 27-nation bloc.

Trump, who promised a new “the golden age” for America in his inaugural address on Monday repeatedly threatened to impose tariffs on goods imported into the US from the EU, fueling fears of a possible trade war.

Speaking to reporters earlier this week, Trump said the EU “is treating us very, very badly. So they’re going to impose tariffs. That’s the only way … you’re going to get justice.”

His comments came as the new US administration is mulling the introduction additional tariff of 10%. on goods imported from China, possibly starting next month.

Officials of the European Union, some of whom fought with Trump’s confrontational style during his first four-year term, suggested that his return to office could be positive for the bloc this time around.

Laurent Saint-Martin, plenipotentiary of the French Minister of Foreign Trade and French Citizens Abroad, called Trump’s election victory a “real opportunity” for Europe.

“We have to stick together, it’s very important,” Saint-Martin told CNBC’s Dan Murphy at the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday.

“Europe is a very powerful continent from the point of view of industry, from the point of view of savings, from the point of view of purchasing power, from the point of view of the single market. So what we need now is to create greater unity and also protect our values,” Saint-Martin said.

“But don’t be naive, tomorrow will probably be a new shape of the world and trading systems, so we have to be ready for change, but above all we have to be united,” he continued.

“You know, Donald Trump’s first mandate was kind of an opportunity for Europe to be together on defense… Now I think it’s time to be more united on industry and trade.”

Meanwhile, business leaders have expressed mixed feelings about Trump 2.0.

Richard Edelman, CEO of global communications company Edelman, suggested that Trump’s return could be a “shot in the arm” for business, while ING CEO Steven van Reiswijk told CNBC that the US president’s inauguration should be a “wake-up call for of Europe”.

There are transatlantic economic relations is considered is critical for both Washington and Brussels, as both economies have the world’s largest bilateral trade and investment relationship.

In light of Trump’s tariff threats, Finnish President Alexander Stubb said it would be important for Europe to “take it day by day.”

“In foreign policy, you always have to be responsive, especially when you come from a small country and you realize you’re dealing with someone who is the president of the biggest superpower in the world,” Stubb told CNBC’s Steve Sedgwick. WEF on Wednesday.

“Now, of course, I take comfort in the fact that Donald Trump wants the United States to remain and maintain its position as a superpower, and for that you need allies, and I think those allies come from Europe,” Stubb said.

“So if I can oversimplify a little bit, even though it’s ‘America first’, maybe Europe should be second, which is perfectly fine,” he added.

Poland’s Finance Minister Andrzej Domanski said on Wednesday that Europe’s “best response” to any potential tensions with the US is to restore competitiveness and strengthen the economy.

“We know how to do it, and we’re going to do it step by step,” Damansky told CNBC at the WEF’s annual meeting.

“Our Polish relations with the US are very, very good, and as you said, we buy a lot of American military equipment, tanks, fighter jets. In fact, you name it, we buy it,” said Domansky.

“But as the European Union, of course we must and will remain united in our relations with the US,” he added.

Also, Spanish Prime Minister Pedro Sánchez said on Wednesday that Spain and Europe should focus on how to strengthen the transatlantic relationship, warning that a possible trade war with the US is “zero gain”.

“We share a strong transatlantic bond … our economies are very interconnected, and I believe that a trade war is not in the interest of (either side), neither the United States nor the European Union,” Sanchez told CNBC.

“A trade war is kind of a zero win,” he added. “We need to focus on how to strengthen our transatlantic relationship, which is now more important than ever.”

— CNBC’s Holly Elliott contributed to this report.