Former European Commission President José Manuel Barroso speaks at the 2022 Concordia Annual Summit in New York on September 20, 2022.
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Former European Commission President José Manuel Barroso said a more “unpredictable” United States would only add to the challenges facing the incoming European Parliament as it deals with growing tensions with China and Russia.
Barroso told CNBC on Monday Europe is “anxious” about the upcoming US election and is examining how the re-election of Republican presidential candidate Donald Trump will affect transatlantic relations.
“The EU is facing not only a more aggressive Russia, a more assertive China, but also a more unpredictable United States. That’s the reality,” Barroso told CNBC’s Silvia Amaro.
The European Parliament is preparing for a new five-year term provisional results While centrist parties maintained their majority in last week’s EU elections, the far-right enjoyed record support. The agenda will focus on the EU’s ongoing response to Russia’s war in Ukraine, as well as dealing with rising trade tensions between China and the United States.
Barroso, who served as President of the European Commission from 2004 to 2014, said that the United States remains the EU’s “biggest ally” and the two countries have close relations, including within NATO. Nonetheless, he noted that the EU is facing a more uncertain future.
“We are really very close to the United States in terms of geopolitics and trade and investment,” said Barroso, now non-executive chairman of Goldman Sachs International.
“Today, there are some questions about which way the United States can go. That’s why that translates into some anxiety, if I can say so,” he added.
A more self-sufficient EU
The former Prime Minister of Portugal pointed out, “Paradoxically,” a more unpredictable America could give Europe the necessary push to become more self-sufficient.
He said then-President Trump was “right” in calling for Europe to increase defense spending – a move later accelerated by its border war.
Recent measures, such as those from the Biden administration Barroso pointed out that the Inflation Reduction Act and China’s green subsidies also forced the EU to think more “politically” about its future industrial strategy.
“(The EU) will place more emphasis on resilience than efficiency; (it will) view investment and trade flows more politically,” he said. “This is already happening in the United States, China and many other parts of the world, and is certainly happening in Europe.”
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