The new U.S. President may well do things very differently – and Brussels is preparing to change tack accordingly. CGTN's William Denselow reports from Brussels.
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00:00It's the largest bilateral trade and investment relationship in the world. Trade between the
00:06U.S. and EU stands at roughly $1.5 trillion per year. But incoming President Donald Trump
00:13claims Washington's getting a bad deal. He's threatened tariffs unless Europe reduces the
00:19trade deficit and buys more U.S. oil and gas. The EU's trade surplus for goods stood at
00:25over $150 billion in 2023, but officials say that doesn't tell the whole story. The
00:33EU has a substantial trade in goods surplus with the U.S., whereas the U.S. has a substantial
00:40trade in services surplus vis-a-vis the EU. Donald Trump's also threatened tariffs on
00:47EU member state Denmark unless it gives up the autonomous territory of Greenland, citing
00:52national security concerns. EU officials say such threats are purely hypothetical,
00:59and Commission President Ursula von der Leyen says she's looking forward to a positive engagement
01:06with the incoming administration. But that might come at a price. Trump has called for
01:12NATO allies in Europe to boost spending on defence to 5% of GDP, compared to the current
01:182% benchmark. We've been derelict in terms of what we've spent on defence, and I think
01:23what Trump has said, not unreasonably, is that if you expect us to support you, if you
01:27expect the American and Braille to still be in place, the least you can do is pay for
01:31the supports. Trump assumes the presidency with war still raging on Europe's doorstep.
01:37Incoming U.S. administration has called for a quick resolution to the conflict in Ukraine,
01:41and the EU says it's willing to step up if Washington isn't willing to continue its leadership
01:47role. But Ukraine's president has urged Trump to maintain support for Kyiv. President Trump
01:54is a strong man, and I want very much to have him on our side. For me, it's very important.
02:01I want to discuss with him more details about this war. With the promise of carrying out
02:06an America First agenda, the international community is bracing for a more protectionist
02:11president. French President Emmanuel Macron has warned that a world of trade wars could
02:16be approaching, chiefly between the U.S. and China. He calls it a moment of acceleration,
02:23and the EU will have to buckle up. William Denslow, CGTN, Brussels.