The article considers the situation in the economies of the European Union countries before the European elections in 2019. The increased activity of nationalist forces in Europe, their intention to use the economic arguments for their political aims are highlighted. The cases illustrate the States’ participation in the capital of largest industrial companies and the problems arising in this connection in interstate relations, on the one hand, and between States and the EU supranational bodies, on the other. The possible consequences of the disagreements for the international economic relations of the EU and its leading countries are named. The destructive role in some cases of the EU supranational bodies in strengthening European industrial potential in the face of other economic blocs and individual economic actors is emphasized. The aspiration of the leading EU countries to unite their efforts in bilateral and multilateral formats to maintain the competitiveness of European industrial enterprises in key areas of the economy is highlighted. Conclusions on strengthening the positions of nationalist parties and political movements in the EU countries and on increasing in such conditions their chances of success in European elections were made. Strengthening positions and increasing the number of nationalist seats in the next European Parliament are predicted.