To prepare for a potential Trump presidency, European governments are contacting political and business figures in the US to understand who might join his administration.
The prospect of Donald Trump returning as president is prompting some of America’s staunchest allies in Europe to push their neighbors that are more reluctant to spend into further action on defense and security.
Results are slowly emerging, but the question dogging Europe is whether the continent can convince Trump it isn’t free-riding, as he has said it is. Campaigning in Las Vegas on Saturday, Trump criticized Europeans for insufficient military spending. "We're paying for NATO and we don't get so much out of it," he said, predicting European allies wouldn't support the U.S. in an emergency. "If we ever needed their help - let's say we were attacked - I don't believe they would be there."
Senior European leaders are starting to discuss how to prepare for and react to a potential change of U.S. administration, but are struggling to agree on the steps to take, say people involved in the discussions.
Defense ministers from the European Union's 27 members will discuss expanding their industrial base when they meet on Wednesday in Brussels. The issue will also be central to a mid-February meeting of the North Atlantic Treaty Organization's defense ministers and their close partners.
In a sign that European officials are starting to address their armaments shortages, NATO Secretary-General Jens Stoltenberg on Jan. 23 announced a $1.2 billion multicountry contract for 200,000 155-millimeter artillery shells, a type being heavily used in Ukraine. The shells will be produced in France and Germany and purchased by Spain, Belgium and Lithuania.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
GDP growth falters in Q2, hopes pinned on 2nd half
GDP growth of 5.4% was the lowest in nearly two years, lower than estimates
Aster DM merges with Quality Care in $5-billion deal
Bengaluru-based Aster DM Healthcare on Friday announced a merger with Blackstone-backed Quality Care India Ltd (QCIL) in a deal that will value the combined entity at $5.08 billion (₹43,000 crore).
AIFs, equities pip realty in family office funding
What's Ahead for Family Offices?
Defence contracts emerge as key biz for telecom infra makers
India's push for local manufacturing has prised open a new business frontier for domestic telecom equipment manufacturers.
HUL turns to high-growth segments to lift demand
Premium is the watchword for packaged consumer goods major Hindustan Unilever Ltd (HUL), as it unveiled a new strategy on Friday to ride on an expected rise in household income and increasing consumer preference for more expensive brands and products.
Russia's war economy shows new cracks after ruble plunges
The Russian economy, surprisingly resilient through two-plus years of war and sanctions, has suddenly begun to show serious strains.
Colgate making right moves, but valuation a concern
Colgate Palmolive (India) Ltd has had a good run in recent quarters and continues to make efforts to boost growth.
Kalyani family's wealth war takes a fresh turn
Gaurishankar Kalyani has filed papers to back his claim that HUF exists
Zomato raises ₹8,500 crore via QIP
A big part of the proceeds is to be used to expand Zomato's quick commerce arm Blinkit
Fintech startup Klub halves workforce
Bengaluru-based financing startup Klub laid off about 60-70 employees in September and paused its commerce operations, according to multiple people aware of the developments.