DIANE COYLE
The succession of global shocks over the past two decades – including the 2008 global financial crisis, the COVID-19 pandemic, Russia’s invasions of Ukraine, and rising inflation – has fueled a resurgence of industrial policy across Europe. But the added shock of Donald Trump’s return to the White House has underscored the urgency of bolstering domestic economic resilience and integrating national and regional security priorities into economic policymaking.
For the European Union and the United Kingdom – which are now facing an openly hostile US administration – the digital economy must become a central focus. Former European Central Bank President Mario Draghi’s report on EU competitiveness and the UK’s AI Opportunities Action Plan both highlight digital and AI technologies as potential engines of future innovation and growth.
The challenge, however, lies in reducing Europe’s heavy reliance on major US tech firms. Whereas President Joe Biden’s administration took a confrontational approach toward Big Tech, the Trump administration has signaled that any future trade agreement will hinge on the EU scaling back its push for new digital regulations and taxes.
For Europe, business as usual is no longer an option. Policymakers must develop a coherent and strategic alternative to reliance on American technology. If this sounds like a quixotic endeavor, consider the creation of Airbus, which started as Europe’s answer to Boeing. An “Airbus for AI” – a publicly funded, commercially operated alternative to US-based platforms – is both feasible and necessary.
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