What will happen to the economy of Europe after the victory of Donald Trump in the USA. The topic was commented on in the studio of “Hello, Bulgaria” the economists Adrian Nikolov and Kuzman Iliev.
“Trump is a businessman. Dialogue and negotiations are back. So far we have had America of power, of military might. Here Trump says “No. I trade, and everyone will consider America because it will be strong economically. And you will comply because you have a benefit, not because we will come to bombard you”. The world was relieved that World War III was being postponed. People will see that the US is becoming strong again, and with economics, not military action. For Europe, it has to pay the bill for the reconstruction of Ukraine and the bill for the migrants who are yet to come. "Ukraine was left without an electricity system, without electricity," commented Iliev. According to him, inflation in the Eurozone will be relatively high.
“Trump enters a strong position in which he will have a majority in both houses of the American Parliament, which means that he will be able to turn a large part of his promises into reality. However, an outplay is entirely possible – Europe and China to respond with counter-tariffs. And finally, let's enter what the economy calls a “race to the bottom”, which means that we will all become poor in the end”, believes Nikolov.
„We have to think about a completely different world. "For the last 70-80 years, we have gotten used to free trade being the model for development, but we will most likely have to think about how to develop the national economy," he added.