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U.S. President Donald Trump delivers remarks on artificial intelligence infrastructure in the Roosevelt Room of the White House in Washington, U.S., on January 21, 2025.
Carlos Baria | Reuters
Politicians from around the world gathered on Wednesday for the second day of the World Economic Forum in Davos, Switzerland, and one name was on everyone’s lips: Donald Trump.
Trump’s proposed tariffs on Europe, introduced Monday as US president, have been a particularly hot topic.
Speaking to CNBC, here’s what European politicians had to say about what four more years of Trump could mean for America’s relationship with Europe.
Pedro Sanchez, Prime Minister of Spain
“We share a strong transatlantic link … 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 said. said CNBC’s Steve Sedgwick on the sidelines of the event.
“A trade war is kind of a zero-sum game. We need to focus on how we strengthen our transatlantic relationship, which is now more important than ever.”
Christine Lagarde, President of the European Central Bank
Lagarde welcomed this fact that Trump did not impose blanket tariffs on the EU on his first day in office.
“I think it’s a very smart approach to trade, because overall tariffs don’t necessarily give you the results you’re looking for. I’m not sure exactly what the outcome is going to be, whether it’s a transaction tool or whether it’s going to be a pure trading tool, but I’m not really surprised,” she told CNBC’s Karen Tso.
“That doesn’t mean it won’t happen. I think it will be a more selective, targeted development that we will see in the next few days or weeks. But I think what we need to do here in Europe is to be ready and anticipate what will happen in order to respond.”
Alexander Stubb, President of Finland
“I’m comforted by the fact that President Trump wants the United States to remain a superpower, and to do that you need allies — and I think those allies come from Europe. So, while America is first, maybe Europe should be second. okay,” Stubb told CNBC’s Dan Murphy.
“I am also comforted by the fact that he is a man of peace. (He) just made peace in the Middle East and I think he will try to do the same in Ukraine. In addition, there are of course things that I find problematic, such as trade tariffs, but we will see how to deal with that.”
Laurent Saint-Martin, Minister Plenipotentiary for Foreign Trade of France
Regarding the impact of the tariffs, St. Maarten said: “There are no new tariffs yet, so we’ll see.”
“We know Donald Trump, during his first (term) President Emmanuel Macron worked closely with him, he is still an ally. Europe and the USA are friends, but we must be realistic and pragmatic – if there are new tariffs, we will have to answer,” he added.
“I think Trump’s election could be a real opportunity for us… but if there are new tariffs tomorrow, if there are some countries, say the US or China, that don’t want to play by the rules anymore, then we have to, we can’t be the last a continent in a world that follows rules that no one follows.”
Vopke Hoekstra, European Commissioner for Climate, Net Zero and Clean Growth
Hoekstra said the U.S. is “going to miss” Trump The US withdrew from the Paris Agreement — a landmark UN deal aimed at stopping global warming.
“It’s a pity. Not entirely unexpected, but unfortunate … given the key role the US plays on the world stage,” he said. “It is the largest economy, it is the most dominant power, it is the second largest emitter of the atmosphere. So, to lose them in the cycles of international climate diplomacy is a shame,” he said.
European Economic Commissioner Valdis Dombrovskis
“If there is a need to defend our economic interests, we will react proportionately,” Dombrovskis said CNBC’s Steve Sedgwick. “We are ready to defend our values, as well as our interests and rights, if necessary.”
Elisabeth Svantesson, Minister of Finance of Sweden
“A lot of attention was paid to tariffs. Tariffs are bad when they go up … but what we do, we have to do together,” she said. “Sweden is very dependent on exports. So, of course, if more and more countries (introduce) more protectionism, it’s bad for us — but it’s also bad for the world economy. It’s not so good for the US if they have high tariffs when it comes to Canada, for example, or Europe.”
On defense spending, Swantesson added: “We have to do more in Europe. When it comes to Ukraine, this is an existential question. So, I hope America doesn’t (back down), but if they do, we have to be strong.”
Andrey Yermak, Head of Affairs of the President of Ukraine
“I believe in America. I believe in the American people. President Trump has been elected as the American President. He is the guarantor of democracy, and (America is) the greatest democracy in the world,” Yermak told CNBC’s Steve Sedgwick when asked about Trump. the desire to stop the war between Ukraine and Russia.
“I do not believe that the American president will be a supporter of autocracy and not democracy. We want to work with President Trump and his administration,” he added. “I am confident that we will find real solutions and together we will decide how to (make) those solutions a reality.”
