Economic experts predict that a potential return of Donald Trump to the U.S. presidency could have severe repercussions for the European Union (EU). Goldman Sachs analysts estimate that Trump’s policies could cost the EU at least 150 billion euros, equating to one percent of its GDP.
Trump, now considered a frontrunner after surviving an assassination attempt, has outlined plans for a 10 percent tariff on all imported goods, including those from Europe. This proposal has raised concerns as many EU countries heavily rely on exports to the U.S.
Moreover, Trump’s stance on NATO and Ukraine is causing unease. He intends to demand member states to increase defense spending to two percent of GDP and potentially reduce financial aid to Ukraine, leaving EU countries to cover the costs.
The projected impact of Trump’s policies could be detrimental, especially for economically fragile EU nations. Analysts suggest that the EU could face a substantial financial setback if Trump’s plans come to fruition.
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