In February of last year, Donald Trump convened the first full cabinet meeting of his second term in the White House. He proudly announced his intention to impose sweeping tariffs on the US’s closest allies in Europe. When asked by a reporter whether Europe might retaliate, Trump sounded confident. “They can’t,” he said. Pressed to explain, he continued: “We are the pot of gold. We’re the one that everybody wants. And they can retaliate, but it cannot be a successful retaliation.” As Trump saw it, Europe was weak and feckless – a minnow compared with the American economic juggernaut. When confronted with a US president prepared to throw his country’s weight around, Europe would certainly cave.
