Britain's Hammond: Trump creates new uncertainty for Europe

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.