Europe

Britain's Hammond: Trump creates new uncertainty for Europe

  • British Treasury Chief Philip Hammond attends a session on the fourth day of the annual meeting of the World Economic Forum in Davos, Switzerland, Friday, Jan. 20, 2017. (AP Photo/Michel Euler)

    British Treasury Chief Philip Hammond attends a session on the fourth day of the annual meeting of the World Economic Forum in Davos, Switzerland, Friday, Jan. 20, 2017. (AP Photo/Michel Euler)  (The Associated Press)

  • A woman cleans the stage prior to a panel session on the closing day of the 47th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Friday, Jan. 20, 2017. (Gian Ehrenzeller/Keystone via AP)

    A woman cleans the stage prior to a panel session on the closing day of the 47th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Friday, Jan. 20, 2017. (Gian Ehrenzeller/Keystone via AP)  (The Associated Press)

  • From left, France's Christine Lagarde, Managing Director of the International Monetary Fund, IMF, Bank of Japan Governor Haruhiko Kuroda, British Treasury Chief Philip Hammond, Laurence D. Fink, Chairman and CEO of BlackRock Inc. and German Finance Minister Wolfgang Schaeuble attend a plenary session during the closing day of the 47th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Friday, Jan. 20, 2017. (Laurent Gillieron/Keystone via AP)

    From left, France's Christine Lagarde, Managing Director of the International Monetary Fund, IMF, Bank of Japan Governor Haruhiko Kuroda, British Treasury Chief Philip Hammond, Laurence D. Fink, Chairman and CEO of BlackRock Inc. and German Finance Minister Wolfgang Schaeuble attend a plenary session during the closing day of the 47th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Friday, Jan. 20, 2017. (Laurent Gillieron/Keystone via AP)  (The Associated Press)

Britain's treasury chief says Donald Trump's accession to the U.S. presidency is likely to create even more uncertainty for Europe than his country's unprecedented departure from the EU.

Philip Hammond, speaking in Switzerland ahead of Trump's inauguration Friday, said "the change of administration in Washington is a very big issue" for Britain and the rest of the EU.

After a campaign critical of free trade and Europe's migration and defense policy, Trump "has probably introduced a bigger uncertainty" for the EU than the Brexit vote, Hammond said.

Barclays CEO Jes Staley, speaking with Hammond at the World Economic Forum, said the U.S. vote for Trump "clearly challenged the notion of a global economic union" and urged the new Trump administration not to attack free trade.