EU seeks economic independence amid concerns over potential Trump presidency

Paschal Donohoe, the chief of Eurogroup, indicated that a potential second term for Donald Trump poses a significant challenge for Europe.

In an interview with Bloomberg Radio, he emphasized the need for the European Union to reduce its economic reliance on the US in light of Trump's distinct approach to tariffs and trade, Caliber.Az reports per foreign media.

While acknowledging that the choice of America's leader is in the hands of its citizens, Donohoe stressed the importance of strengthening Europe's economy to better adapt to potential shifts from the US.

His comments reinforce sentiments from other EU leaders, including ECB President Christine Lagarde, who warned of difficult decisions Europe may face should Trump return to power.

Donohoe expressed confidence in Europe's ability to maintain a strong relationship with the US while enhancing its economic autonomy. He also addressed the financial challenges posed by political instability in France and the scrutiny of public finances within the eurozone.

Moreover, he anticipated the new capital markets commissioner would soon present an action plan to strengthen capital markets in the EU, expressing optimism about the political support for such initiatives.