Donald Trump's return to the US presidency will accelerate the EU's slow-motion fiscal, security, and competitiveness crises.Trump tariffs and the union's response are “going to hurt Europe either way,” says Pepijn Bergsen, a European policy analyst at Medley Advisors. Not only will there be a hit to demand for European (especially German) exports to the US, he says, but the “Chinese exports that are likely to be diverted to Europe … will weigh on price pressures in Europe as well”.In this podcast, Bergsen and colleague Tim Jones discuss the immediate stress test posed by a second Trump term but explore his catalysing effect on national defence spending, military and reconstruction commitments in Ukraine, and EU expansion.  

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