Reuters
For Europe's economy, the Nov. 5 U.S. election offers a "least bad" outcome of a challenging Kamala Harris presidency or a second encounter with Donald Trump which threatens to be yet more bruising than the first. On two key areas - trade policy and the sharing of rising security costs among NATO allies - Europe expects few favours from a Harris presidency which it sees as "Biden continuity". Trump 2.0, on the other hand, presents multiple dangers: if he were to pull U.S. support for Ukraine, European governments would need to ramp up defence spending fast; and if he triggered a global trade war, Europe fears it would be the big loser.