When Donald Trump secured his victory over Kamala Harris in the 2024 U. S. election, European officials found themselves in a familiar yet uneasy position. Despite months of preparation to shield their economies from potential trade disputes, the reality of a Trump presidency hit hard. Many EU leaders woke up to the news with a mix of disbelief and resignation. "I'm seeing it, but I don't want to believe it, " an anonymous EU official confessed, echoing a sentiment shared by many across Europe.

The past presidency of Trump was marked by tense moments and confrontational leadership styles that many European leaders were eager to leave behind. The 2020 victory of Joe Biden had brought hopes of a more cooperative relationship. But now, with Trump back in the White House, concerns about economic warfare are resurfacing.

Ursula von der Leyen, Emmanuel Macron, Pedro Sánchez, Giorgia Meloni, and Viktor Orbán were among the first EU leaders to extend congratulations to Trump. However, not all European countries share the same apprehensions. Viktor Orbán, Hungary's prime minister, has openly admired Trump and even expressed plans to celebrate his election with champagne.

The upcoming EU leaders' meeting in Budapest on Thursday and Friday will provide a platform to discuss strategies for the transatlantic relationship. Trump has previously threatened to impose additional tariffs on European nations, warning that the EU would face significant consequences for not purchasing enough American goods.

The EU and the U. S. share the world's largest bilateral trade and investment relationship, totaling €1. 2 trillion ($1. 29 trillion) in 2021. Any new tariffs could exacerbate the already sluggish economic growth in Europe. "We'll discuss the election outcome in Budapest, " a third EU source told CNBC. "Our main challenge will likely be Ukraine, and our focus is on maintaining European unity. "

Europe Reacts to Trump's 2024 Win: Preparing for Storms Ahead

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