Donald Trump's inauguration brings a reset in European politics and trade
European nations will struggle to pick up the pieces if Donald Trump reduces US support for Ukraine -
In Europe, the inauguration of Donald Trump will mean a reset in politics, trade and security.
Europeans have heard him talk about cutting support for Ukraine, introducing tariffs and forcing NATO members to massively increase defence spending.
The question, as ever, is whether his actions will match his rhetoric.
If Mr Trump really does reduce support for President Zelenskyy, European nations will struggle to pick up the pieces.
They might offer more money but American weapon production simply cannot be replicated. Ukraine would suffer.
Mr Trump has promised a rapid end to the conflict, but he hasn't said how.
If Russia, after so much time and loss of life, felt it was suddenly in the ascendency over a weakened Ukraine, it might demand the sort of deal that would unsettle the whole of Eastern Europe.
Mr Trump has previously been ambiguous about his support for NATO, so there will be plenty across Europe who push for their nations to spend more on defence and be less reliant on America.
The Danes will expect, and surely receive, wholehearted backing from both the EU and NATO.
But the diplomats have their work cut out.
Mr Trump is likely to introduce more tariffs against some countries, most notably China.
But will he do the same to Europe, or will he decide that it's better to bring old friends into the tent?
Certainly Europe, struggling with poor growth in its biggest economies, would desperately want to avoid tit-for-tat tariffs.
European nations will have enough problems dealing with cheap Chinese imports that are dumped in Europe, now they can't be sold in America. Mr Trump's protectionism will change global trade.
