The US will be a stronger presence in EU politics after the Biden presidency
After Joe Biden emerged as this year’s winner of the US presidential elections, many people, not only Americans are hoping for better days to come. The EU is top on the list, giving that its relationship with the US was strained throughout Trump’s presidency.
Many European observers saw President Donald Trump’s 2016 election not only as a surprise but as a shock. Many European had concerns about Trump’s win, mainly because they believed that his election would affect the prospects of European integration and transatlantic relations as well. This stemmed from Trump’s nationalist slogan “America first,” he also condemned TTIP and NATO, and he also made several statements implying a breakup with the EU following Brexit.
Trump has made many derogatory statements about the European Union during his campaign speech that covered a wide range of unrelated issues, from his friendship with the Mexican president, illegal immigration, and military spending. In July, he said that the EU was created to exploit the US, which has strained relations between both nations.
Opposed to Trump’s views, the EU was created to promote trade links and also encourage political collaboration, which was aimed at stopping conflicts that were recurrent in Europe during the first half of the 20th century. Previously, Trump called the EU, which is one of America’s biggest allies, one of the country’s biggest enemies. However, all this is coming to an end due to his loss of the presidential race.
As opposed to anticipation that the markets will plunge downwards in the event of a Biden win, market performance was outstanding. Some traders are restrategizing while others are coming up with new approaches anticipating upward movement in the markets post-inauguration. Market activities are top-notch, and traders are very optimistic. At this point, as a trader, it’s best to glance over all the trading strategies you can use in this situation to make sure that trades are successful and market hype is avoided. When there is an anticipation of movements in the markets, traders need to do the most they can to take advantage of the situation.
A New Dawn
Congratulations were in order after Joe Biden was projected President-elect on November 11, 2020. Within minutes, congratulations for Joe Biden throughout Europe started flowing just in a matter of seconds after his win was announced. Not only does this win imply a change in America, but also better Euro- American relations. After facing so much backlash from Donald Trump, the EU is looking forward to a new dawn in its relationship with the USA, giving Joe Biden’s win in November with 270 electoral votes. It was apparent that the EU leaders were toasting to the end of an era where the United President rants on Twitter and looking forward to the prospects of the renewal of their relationships with the US.
With the announcement of Biden’s win, European investors have been very bullish about trade. So many forex traders have altered their forex trading journals, signaling anticipated changes in the EUR/USD relations post-inauguration. For those traders who don’t know what a trading journal is, it is a log where you can record your trade. It is not only used as a log, but you can reflect on your past trading by using your forex trading journal to evaluate yourself and how you have been trading.
Although many leaders haven’t sent in official letters of congratulations to Biden due to the fact that Trump is refusing to concede, claiming electoral fraud, Europe couldn’t be happier for former Vice President Biden’s victory. Although it might not be all too apparent and no news headlines, the relationship between the USA and Europe is getting its balance back.
Many European leaders anticipate that the Biden administration would likely uphold the bipartisan agreements that were established over the years to share the burden among US allies. However, they don’t expect too much of a difference in approach from Joe Biden’s administration. In the wake of strained relations between the USA and the EU, especially with regards to trade, many political leaders and policymakers expect Biden to reaffirm the alliance between the USA. And its long-term ally, the EU.
In a Biden Foreign Affairs article, he talked about a summit for democracies. Which implied that his approach to other democracies will be less autonomous than that of the True administration and will prioritize its partners and democratic allies, which is what American foreign policy is centered around.
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