Edition: International | Greek
MENU

Home » World

US midterm elections and the EU

The question is, what will matter the most if the Republicans take over one or both chambers of the US Congress

By: N. Peter Kramer - Posted: Monday, November 7, 2022

"A new ‘MAGA’ (‘Make America Great Again’!) wave of incoming Republican members to the House of Representatives will make the approval of new funding for Ukraine much more difficult."
"A new ‘MAGA’ (‘Make America Great Again’!) wave of incoming Republican members to the House of Representatives will make the approval of new funding for Ukraine much more difficult."

by N. Peter Kramer reporting from Washington DC

The question is, what will matter the most if the Republicans take over one or both chambers of the US Congress. It appears that the House of Representatives will have, almost guaranteed, a Republican majority; for the Senate it will be a close finish. The biggest impact to expect is on the future US funding for Ukraine.

A new ‘MAGA’ (‘Make America Great Again’!) wave of incoming Republican members to the House of Representatives will make the approval of new funding for Ukraine much more difficult. While a Republican controlled Senate would be more cooperative in Ukraine funding than a GOP-led House, the mood and the tone on Ukraine in the Senate will change as well. Four moderate Republican Senators, who led the US bipartisan initiatives of support for Ukraine, are retiring and at least three of them are likely to be replaced by ‘MAGA’ candidates.

The expectation is that it does not mean that funding will be ceased, but the levels are likely to drop significantly. The direct implication for the EU, and the UK, will certainly exert US pressure on its European allies to massively step up with their financial and military support for Ukraine and -again- to meet their NATO defense spending commitments.

Beyond Ukraine, to expect is a Republican controlled Congress to take a different course on energy that will impact Europe, exerting greater pressure to ratchet up production of the nuclear and fossil fuel energy, doubling down on LNG exports, pushing for more drilling and favourable regulatory acts for gas and oil companies as well as the construction of a gas pipeline infrastructure in the US.

A Republican Congress will continue to criticise President Biden for his climate agenda, however will not have the power to pull the US out of the Paris Accords, participation in which is secured through an executive order. The Republicans need the US Presidency to revoke such an order. What the Republicans can do is make future spending on climate cooperation difficult beyond the funds which have already been secured through the Inflation Reduction Act.

It is clear, that the significance of the result of the US midterm elections, on Tuesday November 8, could be far-reaching for Europe.

READ ALSO

EU Actually

European Parliament challenges member-states with an additional budget increase of 10 percent

N. Peter KramerBy: N. Peter Kramer

In his weekly column, N. Peter Kramer writes how the EP opposes Commission’s proposal to cut back on traditional programmes such as agriculture and cohesion

Europe

The EU–India Deal Is Done. Africa Must Be Next

The EU–India Deal Is Done. Africa Must Be Next

The EU-India FTA deal showed Brussels can move when the stakes are high; Africa is the real test of whether Europe can protect its economic security in a more fractured world.

Business

Where Romania can build excellence: the sources of future competitiveness

Where Romania can build excellence: the sources of future competitiveness

Romania has been, for most of its recent history, a story of potential deferred. The standard account of Romanian competitiveness, to the extent one exists in international business literature, is a cost story: cheap labor, low corporate taxes, a large domestic market for Central and Eastern European standards.

MARKET INDICES

Powered by Investing.com
All contents © Copyright EMG Strategic Consulting Ltd. 1997-2026. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron