Investor Alert

Jan. 20, 2021, 3:59 p.m. EST

Europe greets Biden’s inauguration with relief and muted hopes

By Pierre Briançon

European officials greeted this week the inauguration of U.S. President Joe Biden as the welcome end of four years of roller-coasting trans-Atlantic relations. But they also sounded eager to get on with dealing with the problems that have accumulated in the meantime.

Read: Biden announces day one executive orders

The outlook: Europeans know that many contentious issues will be dealt with in the short term — Biden, for example, has already said he would rejoin the Paris agreement on climate change. Beyond that, European Union leaders also know that the two sides’ interests, notably on trade and economic matters, won’t always coincide.

The EU and the U.S. may not see eye to eye on how to deal with and regulate the power and influence of big U.S. technology companies such as Facebook (NAS:FB) or Google (NAS:GOOGL) . And in the short term, it may take some time to come to compromises on matters such as a global digital tax, or the continuing tariff war triggered by the subsidies dispute between plane makers Boeing (NYS:BA) and Airbus (PAR:FR:AIR) .

Read: Biden likely to tighten COVID travel restrictions from these countries

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