Economists warn that a second Trump term could lead to protectionist policies, pressuring the ECB to cut interest rates to mitigate damage to eurozone growth. Trade tensions may negatively impact European exports, particularly in the automotive sector, with significant declines in German automaker stocks. Goldman Sachs predicts a 0.5% hit to Europe’s GDP, with Germany and Italy facing contractions. Additionally, Trump’s re-election may increase defense spending pressures on the EU. Former ECB President Mario Draghi urges swift EU reforms to address competitiveness gaps and calls for a unified EU approach in trade negotiations with the US. Teljes cikk (Euronews.com)