EU leaders prioritize economic reforms after Trump's election win

Following Donald Trump's election win, EU leaders are prioritizing economic reforms amid concerns over potential U.S. tariffs. Mario Draghi's recent report emphasizes the urgency of boosting Europe's economy, highlighting a need for an additional €800 billion in annual investments. At a summit in Budapest, EU officials discussed Draghi's recommendations, which include common borrowing and enhancing competition policy. However, Germany and other northern countries oppose joint debt financing, complicating consensus on the proposed reforms. The discussions aim to address Europe's economic challenges, particularly in light of Trump's tariff threats. While leaders acknowledge the need for decisive action, concrete proposals will take time to develop and implement.