To kick off their EU27 meeting, on the evening of Thursday 7 November, EU leaders will have dinner while discussing results of the US elections and the recent Georgian elections. The heads of state or government are expected to react above all to Donald Trump’s return to power in the United States in January 2025, having defeated his rival, Kamala Harris, at the polls.
A degree of anxiety is palpable among the Member States, according to a European source. The election of Donald Trump suggests less regular contact between the EU and Washington and less support for Ukraine.
However, several diplomats believe that it is too early to draw conclusions about the future of the relationship. This will just be the start of the discussions, as Mr Trump will not take office for another two months.
In all cases, the emphasis must be on strengthening European competitiveness in the face of any new trade barriers from Washington.
In this sense, the election of Donald Trump, who is threatening to impose across-the-board tariff hikes on imports, should “shake up” EU governments, one European source hopes.
Budapest Declaration. Some believe that the informal summit on competitiveness on 8 November is therefore the most appropriate response to the outcome of the US elections. In the morning, Mario Draghi will present his report on the EU’s competitiveness to leaders, after which the EU27 will discuss the subject among themselves.
The difficulty at this stage lies in the fact that Member States are divided on the recommendations made by Mr Draghi, particularly on financing issues. A source admits that this is a “real challenge” for the coming months and the work that will get underway.
No one expects the Budapest summit to provide solutions to the problem of competitiveness in the EU, according to two diplomats. For the time being, the European Council wants to keep the focus on the issue and maintain a degree of political pressure.
In the latest version of the declaration, presented on Wednesday 6 November to the permanent representatives of the Member States to the EU, a copy of which has been received by Agence Europe, the passage on financing has not been cut, despite requests from several countries.
The Multiannual Financial Framework is still referred to as an “essential means to deliver on our strategic priorities”. Leaders are also expected to express a commitment to “explore the development of new instruments” and “continue to work towards the introduction of new own resources”.
This latest version seems to have convinced the EU27, who have informally approved the text, on condition that a few minor changes are made, according to two sources.
See the draft declaration: https://aeur.eu/f/e7j (Original version in French by Léa Marchal with the editorial staff)