As President Trump completes his first 100 days in office, Sara Hemrajani reports on the view from European markets and business analysts on the U.S. leader’s policies.
(REUTERS / ECB POOL) –
“This is the best decision you could possibly make. Believe me, believe me. Tremendous decision, I have to tell you.”
100 days of Donald Trump in office providing plenty of comedy material.
But for many in Europe, his administration has been no laughing matter.
Jeremy Batstone-Carr, Independent Market Analyst,
“I think it’s pretty hard to find an area where the Trump administration has performed well over the course of the first 100 days.”
Though, that might be a relief for some when it comes to one major campaign promise.
Trump’s ‘America First’ trade policy sparked fears of protectionism and tariffs that could hurt global exporters.
But, according to Mario Draghi, that rhetoric has been toned down.
Mario Draghi, ECB President,:
“One thing that may have come out of the meetings is that perhaps the risk of trade protectionism may have somewhat receded.”
At the Frankfurt stock exchange, the general attitude on the new White House is: lots of talk, not much concrete action.
Still, Trump’s tweets have kept traders on their toes.
Carsten Brzeski, ING-Diba Chief Economist,
“Markets have been extremely sensitive to what this administration has said so far. Markets learned that they need to be awake in the middle of the night to follow what Mr. Trump is saying on Twitter. So this is a trend which will continue, but I think in the end will fade down, will slow down.”
Europe is set to be the first overseas stop for President Trump.
He’s due to attend a NATO summit in Brussels on May 25th.
The Commander-in-Chief had called the security alliance “obsolete” during the election campaign.
But in recent weeks, Trump appears to have changed his mind, even sending U.S. jets to Estonia as a symbol of solidarity.