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"The EU is at a fork in the road: It can follow the US down a volatile, destructive path or it can forge its own course toward stability."
As the European Parliament debates the trade agreement reached last year by President Donald Trump and European Commission President Ursula von der Leyen, more than 120 civil society groups from across Europe and the globe on Thursday warned that the demands Trump has made on the bloc and his "contempt for international law" have made clear that the US is currently "no longer a good-faith partner."
In solidarity with countries that have been directly threatened with Trump's "fossil-fueled imperialism"—Venezuela and Greenland—the EU must reduce its reliance on US fossil fuels and cancel the negotiation and implementation of the trade deal, said Oil Change International, one of the signatories of the open letter that was sent to von der Leyen and other top EU officials.
The letter notes that Trump has already shown that in a deal with the US, the EU will be pressured to "dilute its own climate commitments" and "enrich US fossil fuel companies" at the bloc's expense.
"His administration has attacked the EU's methane regulation and its Corporate Sustainability Due Diligence Directive, seeking to weaken Europe's ability to hold corporations accountable for climate and human rights harms," reads the letter, which was also signed by Coal Action Network in the UK, Urgewald in Germany, and a number of US-based groups including Public Citizen.
Von der Leyen agreed to the deal last July after Trump threatened the bloc with "economically devastating tariffs," the groups wrote, ensuring the EU would import $750 billion in US energy products including liquefied natural gas (LNG).
Those imports will "contaminate the air and water of nearby communities, increasing their risk of cancers, asthma, and other serious health harms," warns the letter, while also being projected to raise energy costs for households across Europe.
Up to 1 in 4 homes in the EU already struggle to adequately heat, cool, or light their homes, wrote the groups.
James Hiatt, executive director of the US group For a Better Bayou, called on EU leaders to "side with communities like mine, not the fossil fuel executives bankrolling Trump, by ending its reliance on US gas.”
“There’s nothing clean about US LNG," said Hiatt. "This industry has destroyed wetlands, damaged fishermen’s livelihoods, and condemned Gulf South communities like mine to higher rates of heart conditions, asthma, and cancer. We’re also on the frontlines of hurricanes and flooding made worse by continued fossil-fuel dependency Europe keeps importing."
The groups wrote that "every euro spent on US non-renewable energy, and every fossil fuel investment made by European companies and banks in the United States, fuels Trump's authoritarian agenda at home and his imperial ambitions abroad."
"The only way Europe can reach energy independence and free itself from outside pressures is by implementing a just transition away from fossil fuels and relying on energy sufficiency/efficiency and homegrown renewable energy," reads the letter. "Done well, this can support decent jobs and sound local economies."
By ratifying the deal with the US, the groups added, the EU will only be "switching one dangerous dependency for another," following its phase-out of oil imports from Russia.
The bloc will also be "giving up its sovereignty bit by bit, losing the competitiveness battle, deepening the climate crisis which will be putting its own people's lives at even higher risk from extreme weather, and jeopardizing its ambitions to be seen as a global climate leader," reads the letter.
Trump's threat to seize Greenland from the Danish kingdom and his illegal strikes on Venezuela—aimed, his administration has admitted, at taking control of its oil—have shown how willing the president is to violate international law if it serves his own interests, the groups suggested.
The groups made specific demands of EU leaders, calling on them to:
“Under Trump, the US has become a rogue state that violates international law and bullies sovereign nations into submitting to its ‘energy dominance’ agenda," said Myriam Douo, false solutions senior campaigner for Oil Change International. "The EU must stop wasting money on risky, expensive US fossil fuels, which threaten climate goals, put people at greater risk of climate disasters, and harm communities with toxic pollution."
"The EU is at a fork in the road: It can follow the US down a volatile, destructive path or it can forge its own course toward stability," said Douo. "It can save billions, build a resilient economy, and ensure its long-term energy security and independence through a just transition to renewable energy."
The administration’s domestic policies, coupled with aggressive foreign postures, are accelerating disillusionment among Trump’s core supporters.
As President Donald Trump’s second term unfolds, the contradictions at the heart of his “America First” agenda are increasingly apparent. What began as a populist revolt against elite globalism appears to have morphed into policies that alienate the very rural and small-town constituencies that backed him in 2016, 2020, and 2024.
These rust-belt and rural counties were drawn to his promises of economic revival, border security, and non-interventionism. Yet, emerging signs of fracture in this MAGA base suggest a potential backlash in the upcoming midterms.
The administration’s domestic policies, coupled with aggressive foreign postures, are accelerating disillusionment among Trump’s core supporters.
Domestically, Trump’s intensified immigration enforcement has backfired. Ramped-up Immigration and Customs Enforcement raids were sold as fulfilling pledges of mass deportations targeting “criminals”. But these operations have swept up undocumented workers essential to rural economies. Small family farms and businesses in states including California, Idaho, and Pennsylvania are reliant on immigrant labor for harvesting crops, dairy operations, and meatpacking. They now face acute shortages.
Trump, meanwhile, is perceived as profiting personally. His properties and branding deals benefit from economic nationalism, even as family farms teeter on the verge of bankruptcy.
Agricultural employment dropped by 155,000 workers between March and July 2025, reversing prior growth trends. Farmers in Ventura County, California, for example, denounced raids that targeted routes frequented by agricultural workers. Fields lie unharvested signalling financial ruin for some operations. Family-run farms struggle to find replacements. Low wages and grueling conditions simply fail to attract American-born laborers.
This labor crisis exacerbates a broader sense of betrayal. Rural voters supported Trump for his anti-elite rhetoric, expecting protection for their livelihoods. Instead, the administration’s actions have hollowed out local workforces without viable alternatives.
The H-2A visa program, meant to provide temporary foreign workers, has been streamlined—but remains insufficient amid ongoing raids, which deter even legal migrants. These disruptions ripple through small-town economies, where agriculture underpins community stability. Democrats, sensing opportunity, are investing in rural outreach, emphasizing economic populism to woo disillusioned voters who feel abandoned by Trump’s enforcement zeal.
Compounding these woes are the ongoing tariff disruptions. Trump touts his tariffs as tools to “make America great,” but in fact they have driven up costs for the same rural groups. Between January and September 2025, tariffs on imports from China, Canada, Mexico, and others have surged, collecting US$125 billion. However, the figure may be even higher according to experts.
But while the administration claims these taxes punish foreign adversaries, the burden falls squarely on American importers and consumers. Small businesses, which account for around 30% of imports, faced an average of US$151,000 in extra costs from April to September 2025, translating to $25,000 monthly hikes. Farmers, already squeezed by low grain prices, pay more for necessities, such as fertilizers (hit by 44% effective tariffs on Indian imports) and machinery parts.
Midwest producers of soybeans, corn, and pork—key US exports—suffer doubly from retaliatory tariffs abroad, which reduce demand and depress revenues. In Tennessee and Pennsylvania, builders report 2.5% rises in material costs, while food prices climb due to duties on beef, tomatoes, and coffee.
Trump, meanwhile, is perceived as profiting personally. His properties and branding deals benefit from economic nationalism, even as family farms teeter on the verge of bankruptcy. This disparity fuels resentment. Polls show Trump’s approval slipping in swing counties, with economic anxiety eroding the loyalty that once overlooked his character flaws.
These domestic fractures are mirrored in foreign policy, where Trump’s interventionism starkly contradicts his campaign pledge of “America First” restraint. Having promised no new wars, he has instead pursued aggressive postures that many Republicans view as unnecessary. The most emblematic is his renewed bid to acquire Greenland, apparently by negotiation or force, which has swiftly followed the US raid on Venezuela in the first week of January, accompanied by threats against other Latin American countries including Cuba and Colombia.
The US president has justified demands for control over the Arctic island—citing threats from Russia and China—as a strategic necessity. But NATO allies such as Denmark—of which Greenland is a constituent part—have rebuked it as an potentially alliance-shattering move. Congressional Republicans, including Sens. Mitch McConnell (R-Ky.) and Thom Tillis (R-NC), have broken ranks, warning that force would obliterate NATO and tarnish US influence.
Such dissent highlights broader paradoxes. Trump’s populist realism prioritizes tough rhetoric for domestic consumption but yields aggressive, even reckless actions abroad. His administration is effectively dismantling post-1945 institutions while embracing 19th-century spheres-of-influence and outright colonialist thinking, including invoking an updated version of the 1823 Monroe doctrine.
The fractures signal that Trump’s “America First” policies may ultimately leave its rural and rust belt champions behind.
Rural voters, weary of endless wars, supported his non-interventionist promises. Now they see echoes of past entanglements in Trump’s suggestion that the US could intervene in Iran. This cognitive dissonance is accelerating disillusionment with his presidency.
These self-inflicted but inherent contradictions are hastening a pivotal reckoning for Trumpism. In many counties that have thrice backed him—and especially in swing counties—economic hardship and policy betrayals erode the cultural ties binding rural America to the Republican party. Democrats, through programs such as the Rural Urban Bridge Initiative, are betting on this “betrayal” narrative, spotlighting farmers’ plights to flip seats in November 2026.
Polls show Latinos and independents souring on Trump, with the US president’s base turnout potentially waning as the midterm elections approach in November. If Republicans suffer larger-than-expected losses in those elections, it could mark the decline of Trumpism’s grip by exposing its elite-serving underbelly beneath populist veneer.
Yet, without a compelling alternative vision, Democrats risk squandering this opening. For now, the fractures signal that Trump’s “America First” policies may ultimately leave its rural and rust belt champions behind. Whether Trumpism proves resilient or begins a long decline may well be decided not in Washington and Mar-a-Lago, but in the county seats and small towns that once formed its unbreakable base.
For a brief moment, lots of financial leaders said they were going to take steps to address climate change, but when Big Oil pushed back with the help the GOP, they turned tail and ran. It's time for them to turn and fight.
Any resistance needs to celebrate its victories, and the weekend’s retreat by the administration is a big one: Should the forces of decency ever regain the upper hand in DC, we need a monument to the people of Minneapolis on the National Mall, and busts of Renee Good and Alex Pretti in the Capitol.
And it’s not just the Trump administration that those brave people faced down, it’s the pundit class too, who insisted over and over that progressives should avoid talking about immigration because it wasn’t politically popular. The other subject we’ve been told to sideline is “climate change,” for fear of offending voters more interested in “affordability.” (Former Energy Secretary Jennifer Granholm told an industry audience Monday that “on Maslow’s hierarchy of human needs, climate does not rise as much as how much I'm paying for my electricity bill,” which is one of those things that sounds clever until you meet someone who lost their home to a wildfire.)
I actually have no problem with the advice to focus on electric bills—as I wrote a couple of weeks ago, I think affordability, especially of electricity, is an issue that helps both elect Democrats and reduce carbon emissions, since anyone interested in the cost of power is going to be building sun and wind. But I also don’t think that talking about global warming is a mistake—most Americans, polls show, understand the nature of the crisis, and want action to stem it. It isn’t the single most salient issue because all of us live in this particular moment (and in this particular moment the fact that federal agents are executing citizens who dare to take cell phone pictures of them is definitely the most salient issue) but it is nonetheless a net plus for politicians, especially in blue states.
As we were reminded Tuesday morning, when Drew Warshaw, a candidate for New York state comptroller with a long record of building clean energy in the private sector, released a true bombshell report. In it he called for the state to divest its vast pension funds from fossil fuels—and provided the data to show that the failure of the incumbent to do that over the last two decades had cost taxpayers $15 billion in foregone returns. Billion with a b. That’s $750 for every woman, man, and child in the Empire State, all because the longstanding (as in, way too long) state treasurer, Thomas DiNapoli, has ignored the counsel of one expert after another and kept the state invested in Big Oil. (Oh, and since cowardice often consorts with incompetence, another report also finds that DiNapoli has cost the state more than $50 billion by underperforming index funds and giving huge contracts to various advisers.
Always remember, most of the nation’s economy is in places that voted against Trump. It’s a weapon that needs to be used.
A bit of backstory here. Fifteen years ago, some of us launched a fossil fuel divestment campaign. At the beginning the argument was mostly moral: It was wrong to try and make a profit off the end of the world, and if we could convince institutions to sell that stock it would tarnish Big Fossil’s social license.
But it didn’t take long for another argument to emerge. The pension funds, college endowments, and others who joined the movement reported that they were making money as a result, and for a very simple reason: Anything that they put the money into was generating better returns than coal, gas, and oil. And that in turn was for an even simpler reason: Fossil fuel is a faltering industry, because an alternative—the trinity of sun, wind, and batteries—now produces the same product, just cleaner and cheaper. That’s why 95% of new generating capacity around the world last year came from renewables; fossil fuel only has a good year any more if something goes very wrong (the invasion of Ukraine, say).
Anyway, this became the largest anti-corporate effort of its kind in history, with funds representing $41 trillion in investments joining in. Its had powerful effects—when Peabody Coal filed for bankruptcy, for instance, its legal documents listed divestment as a reason. But it also protected the fiscal integrity of the funds that did the right thing—they had more money to pay pensions, provide scholarships, or whatever else. That’s why pension funds in states and entire countries joined in.
Which brings us back to New York. Advocates have put in tens of thousands of person hours explaining to DiNapoli that he should join pension funds in dozens of other places in divesting from fossil fuels, and he has dragged his feet at every turn, with half-measures, occasional strongly-worded letters, and the rest: He is the Chuck Schumer of finance. As Warshaw’s report puts it:
When an investment, and in this case a whole sector of investments, fails to perform over a long period of time and show no realistic signs of turning around, investment managers need to act. Each market cycle over the last two decades has left in its wake less value for fossil fuel companies and less value for fossil fuel investors. This value erosion and strong headwind threats are at the heart of the divestment argument. Why continue to invest in an industry that is now only 2.8% of the market with no plausible strategy to turn things around and a corporate culture that simply that denies the problem even exists? Investment managers need to focus their time on maximizing risk-adjusted returns, not engaging in politically-driven wishful thinking for an industry in permanent decline.
DiNapoli is not alone in his cowardice, of course. For a brief moment—when they were scared by the emergence of Greta’s worldwide movement before the pandemic—lots of financial leaders said they were going to take steps to address climate change. BlackRock, for instance, the biggest investor in the world, which has the power should it choose to use it, to make vast change fast. (BlackRock’s wealth is roughly twice the continent of Africa’s). Here’s what Larry Fink, CEO of BlackRock, said in 2020:
Climate change has become a defining factor in companies’ long-term prospects. Last September, when millions of people took to the streets to demand action on climate change, many of them emphasized the significant and lasting impact that it will have on economic growth and prosperity–a risk that markets to date have been slower to reflect. But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance.
The evidence on climate risk is compelling investors to reassess core assumptions about modern finance. Research from a wide range of organizations–including the UN’s Intergovernmental Panel on Climate Change, the BlackRock Investment Institute, and many others, including new studies from McKinsey on the socioeconomic implications of physical climate risk–is deepening our understanding of how climate risk will impact both our physical world and the global system that finances economic growth.
Will cities, for example, be able to afford their infrastructure needs as climate risk reshapes the market for municipal bonds? What will happen to the 30-year mortgage–a key building block of finance–if lenders can’t estimate the impact of climate risk over such a long timeline, and if there is no viable market for flood or fire insurance in impacted areas? What happens to inflation, and in turn interest rates, if the cost of food climbs from drought and flooding? How can we model economic growth if emerging markets see their productivity decline due to extreme heat and other climate impacts?
Investors are increasingly reckoning with these questions and recognizing that climate risk is investment risk.
But then what happened? Big Oil pushed back, in the form of red state treasurers promising to pull their money from BlackRock. Suddenly Fink turned tail and ran. By now he’s part of President Donald Trump’s inner circle. As Pilita Clark explained in that radical journal the Financial Times over the weekend, DiNapoli and Fink’s failure of courage is endemic across too much of the American elite landscape:
This failure is not due to a shortage of scientific understanding or technological breakthroughs. It is because we lack the political changes needed to put financial systems and economies on to paths that avoid burning fossil fuels. Achieving those changes is inordinately difficult.
Public support from large businesses is important. Ultimately, staying quiet at a time like this is self-defeating. It undermines the global institutions needed to address a growing global climate problem that poses serious financial threats.
David Gelles, in the Times, has another sad account of this collective failure of nerve on Wall Street, and it’s well worth reading. As he writes:
Republican legislatures around the country introduced more than 100 bills to penalize financial companies that supported ESG practices. Republican state treasurers around the country began pulling money out.
This is the company DiNapoli keeps, and the people he apparently listens to—again, he’s a lot more like Chuck Schumer than he should be. So it’s very good news that insurgent candidate Warshaw is talking about bringing New York State’s financial might to bear—in part because it amplifies the message being sent by Mark Levine, new comptroller of the city of New York. Levine’s predecessor Brad Lander, who already led the divestment from fossil fuel companies, late in his tenure called for the city to ditch BlackRock, and Levine seems to be interested in following through.
Together, the pension funds of New York City and New York state control far more resources than the funds of the various red states combined. If they manage to put effective pressure on the oil industry and the finance industry, it will have enormous impact—it will aid enormously in the climate fight and it will undercut Trump. And it will encourage other blue state leaders to do likewise: Always remember, most of the nation’s economy is in places that voted against Trump. It’s a weapon that needs to be used.
And New York can do so without putting anyone’s pension at risk—under the Empire State’s laws, the comptroller has to pay pensions in full no matter what happens to his investment portfolio, so there’s no danger Warshaw will do anything except save taxpayers large sums of money. (And Warshaw is not alone; the other Dem in the primary, Raj Goyle, has called for divestment too, though not with the same depth of analysis). This is a no-brainer, except if you’re stuck in your ways.
I helped found an organization devoted to elder action on behalf of climate and democracy; obviously I don’t think age disqualifies one from office. But DiNapoli is 71 and he represents the greatest danger of long tenure in office: a stultification of ideas, an inability to see new facts, a stubborn attachment to old ideas. It’s time for him, finally, to get out of the way, or to be voted out.
The climate fight, even in this country, is very far from over. The basic premise of that battle—that we must move swiftly away from the moral and financial sinkhole of Big Oil—is still clear and powerful.
Sen. Bernie Sanders also demanded "fundamental reforms" to Immigration and Customs Enforcement and Customs and Border Protection, saying they are "terrorizing" US communities.
US Sen. Bernie Sanders on Wednesday demanded the removal of Homeland Security Secretary Kristi Noem and White House Deputy Chief of Staff Stephen Miller—a key architect of President Donald Trump's violent mass deportation campaign—as well as concrete reforms in exchange for any new funding for Immigration and Customs Enforcement.
In remarks on the Senate floor, Sanders (I-Vt.) called ICE a "domestic military force" that is "terrorizing" communities across the country. The senator pointed specifically to the agency's ongoing activities in Minnesota and Maine, where officers have committed horrific—and deadly—abuses.
Sanders said that "not another penny should be given" to ICE or Customs and Border Protection (CBP) "unless there are fundamental reforms in how those agencies function—and until there is new leadership at the Department of Homeland Security and among those who run our immigration policy." The senator has proposed repealing a $75 billion ICE funding boost that the GOP approved last summer, an end to warrantless arrests, the unmasking of ICE and CBP agents, and more.
"To be clear, Kristi Noem and Stephen Miller must go," Sanders said Wednesday, condemning the administration's attempts to smear Renee Good and Alex Pretti, US citizens who were killed this month by federal agents in Minneapolis.
Watch Sanders' full remarks, which placed ICE atrocities in the context of Trump's broader "movement toward authoritarianism":
Sanders' speech came as the Senate is weighing a package of six appropriation bills that includes a DHS bill with over $64 billion in funding—with $10 billion earmarked for ICE. Democrats have called for separating the DHS measure from the broader package and pushed reforms to ICE as a condition for passage.
Punchbowl reported Thursday morning that Senate Minority Leader Chuck Schumer (D-NY) and the Trump White House are "negotiating a framework to pass five of the six outstanding FY2026 funding bills, as well as a stopgap measure for the Department of Homeland Security," ahead of a possible government shutdown at the end of the week.
"Under this framework, Congress would pass a short-term DHS patch to allow for negotiations to continue over new limits on ICE and CBP agents as they implement President Donald Trump’s immigration crackdown," the outlet added. "If Schumer and the White House come to an agreement, there would still likely be a funding lapse over the weekend. The House, which is slated to return Monday, would have to pass the five-bill spending package and the DHS stopgap."
In addition to demanding ICE reforms, a growing number of congressional Democrats are calling for Noem's ouster as DHS chief in the wake of Pretti's killing. Noem falsely claimed Pretti "arrived at the scene" in Minneapolis "to inflict maximum damage on individuals and to kill law enforcement." Noem has attempted to blame Miller—who also smeared Pretti—for the lie.
More than three-quarters of the House Democratic caucus is now backing articles of impeachment against Noem, accusing her of obstruction of Congress, violation of the public trust, and self-dealing. Trump has thus far rejected calls to remove Noem, saying they "have a very good relationship."
"The two agents who shot and killed Alex Pretti are now on leave, but Trump still backs Noem instead of firing her," Rep. Robin Kelly (D-Ill.), the leader of the impeachment push, said late Wednesday. "I’m leading 174 members with articles of impeachment against Noem. The public is crying out for change. Enough is enough."