• President Donald Trump urged the European Union to deregulate and enhance private sector competition during his video message at the World Economic Forum, warning that its regulatory environment stifles trade and innovation.
• Trump called on global corporations to invest in U.S. manufacturing, threatening tariffs on nations that fail to comply, reinforcing his “America First” agenda.
• Business leaders at Davos echoed Trump’s call, emphasizing the urgency for the EU to deregulate to remain competitive as the U.S. rapidly rolls back regulations.
• EU officials are exploring regulatory simplification rather than full deregulation, focusing on streamlining processes while maintaining climate and antitrust priorities.
• Industry leaders warned that Europe’s lag in technology adoption and slow regulatory reforms could result in trillions in lost GDP and deter foreign investment.

President Donald Trump has called for the European Union to accelerate the process of deregulation and boost private sector competition.

Trump made this demand of the EU during his recent video message to the delegates at the World Economic Forum (WEF) meeting in Davos, Switzerland.

Speaking on Jan. 23, Trump warned that the EU’s regulatory environment is stifling trade and innovation. He further called on European and global corporations to invest in and move their manufacturing to the United States, or else their home nations may face additional tariffs. (Related: Trump’s America First policies rattle globalist elites, threaten WEF’s “Great Reset” agenda.)

Business leaders have come out in support of Trump, emphasizing the need for the EU to act swiftly to remain competitive in a rapidly evolving global economy.

Trump’s remarks at the WEF underscored his administration’s commitment to reducing corporate regulations, a key campaign promise that has already seen significant rollbacks in sectors like oil and gas.

The European Union has treated the U.S. very badly,” Trump said, adding that the bloc makes it “very difficult to get products into Europe.”

Business leaders at Davos acknowledged the urgency of addressing EU competitiveness. Nicolai Tangen, CEO of Norges Bank Investment Management, a subsidiary of Norway’s central bank that helps manage the country’s government pension fund, noted that the U.S. is moving quickly to deregulate, making it imperative for Europe to follow suit.

“They’re rolling back regulations in the U.S. fast, so it makes it more important to do (so) in Europe,” Tangen said.

“I think there is a willingness and ability to move forward with speed [but] we’d like to see that in action – we haven’t seen that so much yet,” said Erik Ekudden, chief technology officer at Swedish tech giant Ericsson.

“We need to move fast … Europe [does not] lack ideas, it’s an issue of implementation,” commented Belen Garijo, CEO of the Merck Group in Germany.

EU taking tentative steps toward simplifying its rules for businesses

The EU has long grappled with balancing regulation and competitiveness. EU Commission President Ursula von der Leyen and former European Central Bank President Mario Draghi have repeatedly highlighted the need for innovation and reduced bureaucracy. Yet, progress has been hindered by disagreements among member states on issues ranging from energy policy to capital markets reform.

Amid this mounting pressure from Trump, EU officials have publicly expressed how they are exploring ways to simplify regulations rather than move forward with full-blown deregulation, especially since the bloc’s government seems unwilling to compromise its decarbonization agenda.

European Commission Executive Vice President Teresa Ribera, head of the bloc’s climate transition program, said that the goal has always been working to streamline business processes.

“The engagement is not to deregulate, but to simplify,” Ribera said, adding that overlapping rules and varying timelines across member states create unnecessary complexity.

Ribera also pointed to merger rules as an area for reform, suggesting that EU antitrust enforcers focus on the most significant cases while expediting others that meet certain guidelines.

“In many other aspects … mergers can take place without such an in-depth assessment coming from the competition authorities,” she said.

The stakes are high for Europe. Merck’s Garijo warned that the bloc’s lag in technologies like AI could cost trillions in lost GDP. Joe Kaeser, chairman of Siemens Energy, stressed the need for decisive action.

“People are tired of listening to the same old story … what happens in the next 100 days, in the next two years?” said Joe Kaeser, chairman of Siemens Energy, stressing the need for decisive action. “If those questions are not being answered … nobody outside Europe will invest [in Europe].”

Watch this clip featuring multiple finance industry leaders discussing how Trump’s proposals for deregulating the private sector will be greatly beneficial.

This video is from the TrendingNews channel on Brighteon.com.

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Sources include:

Reuters.com

FT.com

Brighteon.com