PNN – The American newspaper “New York Times” announced the European Union’s efforts to adopt preventive policies against the trade policies of the President-elect Donald Trump.
According to the report of Pakistan News Network, in a report referring to Trump’s announced economic policies, the New York Times wrote: European officials are seeking to strengthen their alliance to deal with the growing threat of Trump’s tariff policies.
This American media reminded the concerns raised on Thursday by European company managers at an international business conference in Paris and wrote: European businessmen want preventive measures taken by the European Union.
The New York Times wrote: European company managers at the Paris conference emphasized that Europe should adopt a “Europe first” policy instead of the “America first” policy because this approach has disrupted the global market and weakened Europe’s position in the global market.
This American newspaper reminded Europe’s dependence on America in some areas and wrote: Increasing investment in sectors such as defense, technology, green energy and the capital market was among the proposals of European company managers at the Paris conference.
According to this report, “Mario Draghi”, the former head of the European Central Bank, emphasized the need for an annual investment of 900 billion dollars to make European products competitive against American products.
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“Michel Barnier”, the Prime Minister of France, also called for the awakening of Europe at the Paris conference and emphasized on increasing the economic resilience of the Green Continent in the face of possible future economic shocks.
The New York Times evaluated the high cost of energy along with Europe’s strict environmental laws, causing the cost of production to rise in this continent and added: European companies are in a weaker position than their American and Asian competitors, and Washington’s possible trade war can affect European exports.
This American media assessed the European companies on standby to compete with American companies in an unpredictable and protectionist business environment and wrote: Managers of European companies want to act quickly and adopt unified policies to deal with these threats.
In addition to Europe, China is also concerned about the tariff policies of the future American government and has already started consultations with its business partners, including European capitals.
During the first term of his presidency, Trump imposed heavy tariffs on some Chinese and European goods.
Trump inflicted a heavy defeat on the Democrats by winning all the key and decisive states known as the battleground states of northern Arizona, in the swing states of Michigan, Pennsylvania, Georgia, North Carolina, Wisconsin and Nevada.
After the votes are counted and confirmed in the various states, the Electoral College will meet on December 17 to officially cast their ballots and send the results to Congress. The candidate who gets 270 electoral votes or more becomes the president.
These votes will be officially collected by Congress on January 6, and the new US president will be sworn in on January 20, 2025.