On the inauguration of Donald Trump
"A wake-up call for a united Europe!"
VDMA President Bertram Kawlath comments on the inauguration and the first announcements of US President Donald Trump:
"Europe would be well advised not to freeze like a rabbit in front of a snake, but to take matters into its own hands. The new president's 'America first' policy requires a united EU that can hold its own in global competition even with less support from the USA.
The economic program announced by Donald Trump for his second term in office is more aggressive than that of the first term. If implemented, it will put a strain on European-American business relations. It is regrettable that the US wants to withdraw from the Paris Climate Agreement again, thereby slowing down the urgently needed transformation.
The tariffs of 25% on products from Mexico and Canada proposed by Trump would also hit the European mechanical and plant engineering industry hard. This is because many companies have built up their value chains within the USMCA free trade zone and have made considerable investments in the production of machinery and equipment in Mexico in particular.
The EU is called upon more than ever to cushion the impact of Trump's announced tariffs by opening up markets within the framework of free trade agreements. With the conclusion of negotiations at Mercosur, the planned intensification of negotiations with India and the announced negotiations on a free trade agreement with Malaysia, the first steps in the right direction have been taken.
However, the decision-making processes on trade issues in the EU are still too cumbersome and allow blockades based on individual national interests - which is why so-called 'EU only' trade agreements would now be the necessary step. Trump's inauguration is a wake-up call to the EU to change this."
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