Europe and the United States face tough talks on trade after Donald Trump's U.S. election victory, Hungarian Prime Minister Viktor Orban said on Thursday.

Ukraine's Volodymyr Zelensky is in the Hungarian capital for a meeting of the European Political Community. It was the brainchild of French President Emmanuel Macron - launched following Russia’s full-scale invasion of Ukraine as a talking-shop to jointly tackle continental challenges.

Orban, who has grown increasingly isolated within the EU for his ties with Russia and opposition to military aid for Ukraine, has praised Trump as a "man of peace" who would quickly end the war. The two spoke by phone late on Wednesday, and Orban posted on social media: "We have big plans for the future".