Pro Axis Europe - what does the US do?

Peace broke out in Europe in early summer of 1940 (as per earlier 'Pro Axis' threads), countries such as France and the UK seem to be competing with each other, and in part Italy not to be at the bottom of the big four countries in Europe - given that Germany is No one.
Ambassador Kennedy had done his best to warn the President that Britain will fall, the actual manner of it was a surprise to everyone, while the reaction from major members of the British Empire were both guarded and muted, except South Africa, who quickly renounced its previous declaration.

But what now to do ,Lindberg has already organised a visit to Germany accompanied by US industrialists.

Increase the budget for the Navy, yes then what? Do we seize territory previously belonging to European countries?

How different is US reaction if the President is FDR, or not?
 
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