Facing Trump's Hegemony, What Specific Measures Does Europe Have?

European Parliament Postpones Voting on U.S. Industrial Tariffs

According to AFP, the European Parliament had planned to vote in the coming weeks on whether to cancel tariffs on U.S. industrial products under the agreement. The postponement of the agreement's approval undoubtedly sends a strong signal of dissatisfaction to the White House. European Parliament members believe this will unsettle American companies.

Valerie Hayer, President of the center-right "Renew Europe" group in the European Parliament, told journalists: "This is a very powerful lever tool. I think American companies don't want to give up the European market."

According to reports, the postponement has not caused the EU-U.S. trade agreement to collapse. After months of intensive negotiations, the EU reached the agreement with Trump last July; Washington had previously imposed 15% tariffs on EU goods exported to the U.S.

If Trump does not yield, the EU is considering multiple responses, including suspending the trade agreement reached with the U.S. last year and imposing retaliatory tariffs on $93 billion worth of U.S. imports.

As the European Parliament issued this warning, EU institutions are also considering how to strongly counter the actions taken by Trump against America's long-term allies.

EU Commission President von der Leyen said on the 20th that the EU will make significant investments in Greenland, and for Trump's repeated threats, the EU will take a "firm, united, and equal" response.

Trump announced on the 17th that he would impose tariffs on European countries that oppose U.S. control over the Danish autonomous territory of Greenland. European countries pointed out that this move violates the EU-U.S. trade agreement reached last year.

Von der Leyen: Will Europe Make Significant Investments in Greenland?

EU Commission President Ursula von der Leyen spoke at the annual World Economic Forum (WEF) in Davos, Switzerland, on the 20th, saying: "We are working on significant investments in Greenland, but we have not revealed specific details."

She pledged that the EU will work with the U.S. and all partners to safeguard Arctic security, "which clearly serves our common interests, and we will expand our investments."

The EU will hold an emergency summit in Brussels on the 22nd to discuss possible retaliatory measures against the U.S. Von der Leyen warned the U.S.: it should not impose punitive tariffs on its "long-term allies" over the Greenland issue.

She openly criticized the Trump administration's plan to impose tariffs as "a wrong move" and vowed that Europe will respond to Trump's repeated threats with a "firm, united, and equal" approach.

Europe Holds Large Amounts of U.S. Debt

If trade agreements and investments are important "open moves," then Europe's large holdings of U.S. debt could become a crucial "hidden move."

For a long time, the issue of U.S. debt has mainly been of concern to economists and financial markets. Now, as people gradually understand the extent of Europe's involvement in the U.S. financial system, it has entered public discussion in Europe. European banks, insurance companies, and funds hold hundreds of billions of euros in U.S. securities, making Europe one of the major creditors of the U.S. Against the backdrop of sometimes tense transatlantic relations, a question arises: what can European creditors actually do?

Because part of the U.S. debt depends on European funding, this creates the possibility of a reversal of power dynamics. What if Europe slows down its purchase of government bonds, diversifies its reserves, and prioritizes investing in European assets rather than U.S. assets? What if European creditors significantly avoid U.S. debt? Then, U.S. interest rates may rise, increasing the cost of financing for the U.S. federal deficit. In the context of already strained finances, this financial pressure would be seen as a clear political signal. For some public opinion, Europe finally has a concrete means to face U.S. hegemony.

Source: rfi

Original: toutiao.com/article/1854845847241728/

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