Europe treads rigorously as Trump outlines first coverage strikes

Good morning.

Donald Trump has formally turn out to be the forty seventh US president, crashing into workplace with a slate of largely home coverage initiatives and pledging a “golden age of America”.

Beneath, I have a look at Europe’s cowed response to Trump’s first hours. And our central Europe correspondent has a dispatch from a no-confidence vote in Slovakia.

Finest needs

Donald Trump has vowed to “tariff and tax foreign countries” — however held off on asserting concrete commerce measures for now, eliciting a collective sigh of reduction and placid reactions round Europe.

Context: Trump was inaugurated in Washington yesterday, instantly asserting measures to deport undocumented migrants, ramp up oil and gasoline provide and increase American territory — however holding off on tariffs, for now.

Throughout his speech, Trump introduced an “overhaul of our trade system to protect American workers and families”.

“Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” he stated.

EU leaders rushed to congratulate Trump with messages posted on social media, rigorously avoiding any reference to his first coverage bulletins.

European Fee president Ursula von der Leyen, EU Council president António Costa and chief diplomat Kaja Kallas despatched co-ordinated “best wishes”. “The EU looks forward to working closely with you to tackle global challenges,” they wrote in equivalent messages to Trump on X.

Different EU leaders despatched equally generic congratulations, glossing over any variations. “The US is our closest ally and the aim of our policy is always a good transatlantic relationship,” wrote German Chancellor Olaf Scholz.

On condition that solely a choose group of rightwing politicians — together with Italy’s premier Giorgia Meloni — was invited to Washington, it appears many are eager to maintain the president on their facet, and get their very own assembly with him.

“There is still the hope that we can stabilise things with him. The expectation is that we will pay a bit, on trade, but ultimately Ukraine will bring us together around a table,” stated one EU official.

However whereas Trump’s first actions as president haven’t instantly hit the EU, the White Home additionally introduced the US was leaving the Paris local weather accord, a devastating blow for international efforts to combat local weather change, which the EU has championed.

He additionally vowed to be a “peacemaker”, with out making any direct reference to his marketing campaign guarantees to finish the battle in Ukraine inside six months.

“Trump’s inauguration must be met with our clear determination: To defend global democracy. To fight climate change. To stand with Ukraine as long as it takes,” Terry Reintke, co-leader of the Inexperienced occasion within the European parliament, wrote on X. “Now more than ever, the European Union must act united.”

However with Europe’s nationalist proper dedicated to Trump, and centrist politicians afraid to ruffle his feathers, it’s unclear how united a entrance the EU can current towards him.

Chart du jour: Saturation

Revenues from liquefied pure gasoline are anticipated to drop this yr, because the volatility brought on by Russia’s full-scale invasion of Ukraine subsides.

Combating stance

One in all Europe’s most Russia-friendly leaders faces a check of his energy at the moment: Slovakia’s parliament will maintain a no-confidence vote on Prime Minister Robert Fico’s authorities over his closeness with Moscow, writes Raphael Minder.

Context: Fico is serving his fourth mandate as prime minister, which he has used to tighten his grip on energy and restrict anti-corruption investigations. His fragile three-party coalition gained parliamentary elections in September 2023, pledging to finish army help to Ukraine.

Final month, Fico made a shock journey to Moscow to satisfy President Vladimir Putin, days earlier than Ukraine closed a gasoline pipeline that was supplying Slovakia with Russian gasoline.

Fico has since threatened retaliation over Kyiv’s pipeline shutdown, which additionally disadvantaged Slovakia of about €500mn a yr in gasoline transit revenues. Yesterday, he visited Ankara to debate different gasoline provides by way of Turkey.

Opposition lawmakers need Fico to resign over his closeness with Putin, and other people have taken to the streets in protest since Fico’s Kremlin go to.

Fico is predicted to narrowly survive at the moment’s vote in parliament, albeit with a wafer-thin majority.

Removed from making an attempt to appease his opponents, Fico issued a combative assertion yesterday, acknowledging that the EU and Nato remained a “vital space” for Slovakia, however warned that this might change.

He drew a comparability with the collapse of the Soviet Union and its Warsaw Pact: “Just as the Warsaw Pact fell, world events can send both the EU and Nato to the history books,” he stated.

However whereas a Slovak exit from the EU nonetheless appears unlikely for now, snap elections may not, if Fico continues to lift the stakes.

What to look at at the moment

1. EU finance ministers meet.

2. European Fee president Ursula von der Leyen, German Chancellor Olaf Scholz and Ukrainian President Volodymyr Zelenskyy give speeches on the World Financial Discussion board in Davos.

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