Home Business Biden vs. Trump: Europe watches the U.S. election intently — and hopes

Biden vs. Trump: Europe watches the U.S. election intently — and hopes

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US President Donald Trump and Democratic presidential candidate and former US Vice President Joe Biden are seen in the course of the first presidential debate on a YouTube video displayed on a display of a smartphone. United States presidential election scheduled on November 3, 2020.

Pavlo Conchar | LightRocket | Getty Photographs

LONDON – The connection between the U.S. and Europe has been bitter over the past 4 years, however EU officers are hoping tensions will ease after the upcoming presidential election

Transatlantic ties have fractured since President Donald Trump arrived on the White Home in 2017, with clashes over commerce, protection and know-how. As well as, unilateral selections by the American president have upset many within the European Union, particularly his name to shut borders to European vacationers within the wake of the coronavirus pandemic.

Nonetheless, there is a hope amongst some officers within the EU that issues could enhance at the least barely if Democratic U.S. presidential nominee Joe Biden wins the Nov. 3 election. 

Biden might be “extra typical,” a European authorities official informed CNBC underneath the situation of anonymity because of the sensitivity of the difficulty.

The identical particular person added that it will now not be about “what the president tweets within the morning.”

Trump has incessantly opted out of conventional diplomacy requirements by making bulletins and commenting on totally different topics by way of Twitter.

If Biden is re-elected, he can not change from at some point to the opposite the American stance, however he might be simpler going

Jean-Claude Juncker

former European Fee president

Talking at an occasion in early September, Jean-Claude Juncker, who served as president of the European Fee, the EU’s government arm,  in the course of the first three years of the Trump presidency stated: “Donald Trump isn’t an fool … he is aware of precisely what he needs.”

“If Trump is re-elected, I do not suppose he’ll pursue this American custom to be extra pro-European within the second mandate. I do not suppose that if he’s re-elected issues will enhance in the best way we wished them to enhance,” Juncker stated.

Previous to the Trump administration, the EU would usually coordinate on motion of a world scale with the USA, specifically in the course of the Clinton, Bush and Obama presidencies.

“For Europe crucial factor is whether or not we return to a extra calm international coverage and commerce coverage and which means in all probability for Europe a Biden presidency can be higher,” Holger Schmieding, chief economist at Berenberg, informed CNBC’s “Squawk Field Europe” final week.

Nonetheless, a blue wave — referring to the chance that the Democratic Celebration wins the White Home, the Senate, and the Home of Representatives — would additionally not essentially result in a 180-degree flip in transatlantic relations.

“If Biden is re-elected, he can not change from at some point to the opposite the American stance, however he might be simpler going,” Jean-Claude Juncker stated throughout the identical occasion.

In a be aware launched final week, Goldman Sachs stated that if elected Biden would seemingly “reverse the tariffs the Trump Administration imposed on imports from China and abstain from vital tariffs on Europe.”

The latter can be a very welcome improvement for German automakers, who’ve been threatened with larger tariffs since Trump arrived on the White Home.

However in different areas, the expectation is that Biden can be as powerful as Trump has been. “An OECD deal can be as tough as it’s now,” the European authorities official informed CNBC about digital taxation.

The intention of many EU governments to lift taxes on Big Tech has not been effectively acquired by the White Home, which argues this measure would unfairly goal American corporations. The dispute is way from being resolved with the OECD, the group that’s moderating talks amongst totally different governments, lately suspending the deadline for a deal till mid-2021.

“The U.S. will stay an ally of the EU, however it’s clear that due to the present evolution at international stage, the European Union will proceed to be extra assertive in defending its personal pursuits,” an EU official, who didn’t need to be named because of the sensitivity of the talks, informed CNBC.

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