BRUSSELS (CN) — While some celebrated openly, most European leaders put on a brave face for President Donald Trump’s return to the White House, stressing the need for good transatlantic ties — but subtly, some warned they would defend Europe’s economic interests.

U.S. President Donald Trump has promised to address a longstanding trade deficit with the European Union, saying he will reverse that by imposing tariffs or making the EU buy more U.S. oil and gas.

This time around, Europe isn’t panicking about what America First will mean — in part because it has prepared.

Donald Trump promised to impose tariffs and tax foreign countries like those in Europe, but he did not mention any related trade measures after his inauguration. Several EU leaders moved to offer their best wishes for Trump’s presidential win but carefully avoided mentioning his first policy announcements.

EU, German and Chinese leaders took turns defending global cooperation in Davos on Tuesday as the spectre of new trade wars looms following Donald Trump's return to the White House.

U.S. President Donald Trump's return to the White House has been met with both relief and disappointment across world markets as investors try to work out what the next four years will bring.

The European Commission expressed concern about President Donald Trump's decision to withdraw the USA from the World Health Organization (WHO). European Commission spokesperson Eva Hrnczirzova emphasized that global cooperation is needed for the world to be resilient to international health threats.

Social media giants including X and Facebook have agreed to step up efforts to tackle hate speech in the EU, the bloc said Monday as its digital rules face scrutiny with Donald Trump's return to the White House.

US President Donald Trump and the CEOs of OpenAI, Softbank and Oracle announced on Tuesday evening an investment of $100 billion – with plans to reach $500 billion – into the Stargate artificial intelligence infrastructure project.

The European Commission said on Tuesday it was assessing its cases against Apple, Google and Meta and that President-elect Donald Trump's impending arrival in the White House did not affect its commitment to enforcing its laws on big tech.

EU trade chief Maroš Šefčovič extended an olive branch to Washington on Wednesday, two days after the U.S. president was sworn in. He told POLITICO that Brussels was ready to talk with the new Washington administration — despite the repeated threats that Trump has made to hit the 27-nation bloc with tariffs.