50 Heads of State Meet in Budapest as Hungary’s Orbán Hosts an European Political Community Summit

50 Heads of State Meet in Budapest as Hungary’s Orbán Hosts an European Political Community Summit – EU Leaders Terrified About the Economic Impact of US President Trump’s Tariffs

Paul Serran

Leaders of 50 countries, mostly European, have flocked to Budapest, Hungary, for the fifth edition of the European Political Community.

The European relations with the United States now that Donald J. Trump is back are at the top of the agenda.

UPI reported:

“With the war in Ukraine and economic security already key items for the summit even before Trump’s historic comeback win in Tuesday’s presidential election, leaders fear Trump’s campaign pledges were more than just rhetoric and his administration will slow or halt military aid to Kyiv, upend NATO and tackle a $64.6 billion EU trade deficit by imposing tariffs of up to 20%.”

European Council President Charles Michel called for a ‘strategic debate on our transatlantic relations’.

“’Our relationship with the United States is essential and we are ready to deepen it. We have to continue delivering on our priorities in line with the Strategic Agenda, working actively towards a strong and sovereign Europe’, [Michel] said in a news release. ‘I would like us in particular to focus on three areas: our bilateral relations; security and geopolitics, not least Ukraine; and global challenges and international cooperation, including climate change’.”

Trump is expected to reboot U.S. domestic fossil fuel production, discard crippling ‘environmental’ rules, tone down support for ‘renewables’, and maybe even pull the United States out of the Paris Climate Agreement again.

“Trump tariffs would hit the $1.08 trillion in annual two-way trade and services between the EU and the United States by making EU goods, mostly machinery, vehicles and chemicals, more expensive in the American market.”

Goldman Sachs projects an American tariff rate of 10% would lop 1% off eurozone GDP. Millions of jobs across the EU would be at risk.

Also in Budapest is the inevitable Ukrainian President Volodymyr Zelensky.

He used surprisingly Trumpian terminology today (7) when he called on European leaders to apply an approach of ‘peace through strength’ to confront Russia.

Reuters reported:

“’The concept of ‘peace through strength’ has proven its realism and effectiveness more than once. Now, it is needed once more’, Zelensky said.”

Zelensky stressed that his country needs firm support from European leaders, whom he criticized for defending the inevitable concessions to Russia.

“’And what’s next? Should Europe seek the favor of Kim Jong Un in hopes that he, too, will leave Europe in peace?’ Zelensky said in apparent reference North Korean troops deployed by Russia to help in its war effort in Ukraine.

‘We need sufficient weapons, not just support in talks. Hugs with Putin won’t help’, the Ukrainian leader said in an apparent reference to pictures showing United Nations chief Antonio Guterres hugging President Vladimir Putin at a summit in Russia.”