Trump received a lot of attention from European politicians at Davos.
US President Donald Trump speaks about AI infrastructure in the Roosevelt Room of the White House on January 21, 2025 in Washington.
Carlos Baria | Reuters
Politicians from around the world gathered for the second day of the World Economic Forum in Davos, Switzerland on Wednesday, and the one name on everyone’s lips was Donald Trump.
Trump, who was inaugurated as president of the United States on Monday, has been a particularly hot topic over the tariffs he plans to impose on Europe.
Speaking with CNBC, here’s what European policymakers had to say about what another four years of Trump means for America’s relationship with Europe.
Pedro Sanchez, Prime Minister, Spain.
“We share a strong transatlantic bond … our economies are very interconnected and I believe that a trade war is not in the interest of either side, neither the US nor the EU,” Sanchez said. Steve Sedgwick spoke to CNBC on the sidelines of the event.
“A trade war is a zero-sum game. Now, more than ever, we need to focus on how to strengthen our transatlantic relationship.”
Christine Lagarde, President of the European Central Bank
Lagarde On his first day in office, Trump welcomed the decision not to impose blanket tariffs on the EU.
“I think it’s a very smart approach to business, because blanket tariffs are not going to give you the results you’re hoping for. I’m not sure exactly what the expected results are, whether it’s a marketing tool, it could be. It’s a pure business tool, but I’m not really surprised,” Karen Tisso of CNBC told CNBC. she said.
“It doesn’t mean it won’t happen. I think what we’ll see in the next few days or weeks will be a more selective, focused development. But I think what we need to do here in Europe is to anticipate what’s going to happen in order to prepare and respond.”
Alexander Stubb, President of Finland
“I take comfort in the fact that President Trump wants the United States to remain a superpower, and for that you need allies — and I think those allies come from Europe. So even if it’s America, maybe Europe should be second. That’s fine,” Stubb told CNBC’s Dan Murphy.
“I take comfort in the fact that he is a man of peace.[He]has made peace in the Middle East and I think he will try to do the same in Ukraine. Then there are things that I will do. Look for problems like trade tariffs, but we will see how we deal with that.”
Laurent Saint-Martin, Representative of the Minister of Foreign Trade, France
Regarding the impact of tariffs, Saint-Martin said, “There are no new tariffs for now, so we will see.”
“We know Donald Trump, in his first (term), President Emmanuel Macron worked closely with him, he is still an ally. Europe and America are friends, but we have to be realistic and practical – if there are new tariffs, we will be there to respond,” he added.
I think Trump’s election could be a real opportunity for us… But if there are new tariffs tomorrow, if there are some countries, say America or China, that don’t want to play by the rules anymore, then we have to do it. We cannot be the last continent in the world to follow rules that no one else follows.
Wopke Hoekstra, European Commissioner for Climate, Net Zero and Clean Growth
Hoekstra said the United States will “miss” after Trump. He pulled the US out of the Paris Agreement – a landmark UN accord aimed at curbing global warming.
“It’s very unfortunate. It’s not entirely unexpected, but it’s unfortunate … given the critical role the United States is playing globally,” he said. “It’s the biggest economy, it’s the most dominant power, it’s the second-highest emitter. So it’s unfortunate to lose them in the cycles of international climate diplomacy,” he said.
EU Economic Commissioner Valdis Dombrovskis
“If it is necessary to protect our economic interests, we will respond in a proportionate way,” Dombrowski said. Steve Sedgwick told CNBC. If necessary, we are ready to protect our values and interests and rights.
Elisabeth Svantesen, Minister of Finance, Sweden
“There’s been a lot of focus on tariffs. If tariffs go up, it’s bad… but we have to do what we do together,” she said. “Sweden is very dependent on exports. So, of course, if more countries (impose) more protection, it’s bad for us – but it’s also bad for the world economy. If they have high tariffs, it’s not very good for the US. For example, when it comes to Canada or Europe.”
On defense spending, Svantesen added, “We need to do more in Europe. When it comes to Ukraine, it’s a question of survival. So, I hope America doesn’t (pull back), but if they do, we have to be strong.”
Andriy Irmak, Head of the Office of the President of Ukraine
“I believe in America. I believe in the American people. President Trump was elected president of the United States. He is the guarantor of democracy, and (America) is the biggest democracy in the world,” Ymark told CNBC’s Steve Sedgwick when asked about Trump’s desire to end the war between Ukraine and Russia.
“I don’t believe that an American president will be a supporter of democracy, not democracy. We want to work with President Trump and his administration,” he added. “I am confident that we will find real solutions and decide together how to make these solutions a reality.”
