" Rather than get defensive, Europe should strengthen the common market, boost industrial digitalization and its service industries in the face of rising protectionism from the United States. "
The Unexpected Catalyst for a United Europe
The first weeks of Trump’s administration confirmed that his campaign speeches were not just an exercise in empty rhetoric. The new U.S. president means business and seems determined to deliver on his promise to put “America first” by ushering in a return to protectionism to beef up the American economy. In the medium-term, however, American businesses might suffer from a shortage of manpower as the new president rejects the image of America as a land of immigration.
In light of this new reality, Germany and Europe cannot simply sit back and wait for these new, unexpected developments to simply go away. The stability of our continent and its economic future might quickly be affected by the shifting political landscape across the Atlantic and we must therefore find a strategic way to react. So, what could this strategy look like?
To conclude, we must react to Trump’s protectionist measures by unleashing our potential and use his tenure as president to define a new, strategic role for ourselves in international trade. It is time politics and business work together to exploit these opportunities so we can set our future ourselves.
This text first appeared in the global edition of Handelsblatt, 15 February, 2017