With odds of a Trump win rising, here's what it could mean for Europe's economy
==========

Goldman Sachs economists warn that if Donald Trump were to become U.S. president again, there could be "profound implications" for the euro area's economy. They estimate a GDP hit of around 1% and a modest increase in inflation. Trade policy uncertainty, defense and security pressures, and spillover effects from U.S. domestic policies could impact Europe. Trump's trade policy, including tariffs on European steel and aluminum, could increase trade policy uncertainty. Trump's defense policy, including potentially cutting U.S. aid for Ukraine and questioning NATO commitments, could require European countries to fund additional defense spending. U.S. domestic plans, such as tax cuts and less regulation, could have spillover effects on Europe. Overall, a second Trump term could pose a significant downside risk to the Euro area's economy.



https://www.cnbc.com/2024/07/15/what-a-trump-presidency-could-mean-for-europes-economy.html