PARIS: European Central Bank President Christine Lagarde said on Monday that Europe should move towards economic independence as US President Donald Trump prepares to unleash a new wave of tariffs.
Trump has vowed to impose reciprocal tariffs on a wide range of trade partners on Wednesday, which he has coined “Liberation Day”, saying the world’s top economy has been “ripped off by every country in the world”.
Lagarde told France Inter radio that Europe faces an “existential moment”.
“He calls it ‘Liberation Day’ in the United States. I see it as a moment when we must collectively decide to take greater control of our destiny and I think it is a step towards independence,“ she said.
“To put ourselves in a position to negotiate effectively, we have to show that we won’t just roll over,“ Lagarde added, as the European Union readies its response to the US tariffs.
The ECB estimates that Trump's trade war could slash the eurozone's economy by 0.3 percent in its first year -- and by 0.5 percent if the EU retaliates.
“A trade war creates only losers,“ Lagarde said.
Hence then, the article about trump trade war must prompt europe independence ecb chief was published today ( ) and is available on Daily Sun ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Trump trade war must prompt Europe ‘independence’: ECB chief )
Also on site :
- One person in critical condition following two-vehicle collision on SR-126 at Boosey Road
- Kentucky congressman announces death of longtime staffer, campaign manager
- Trump rants about Epstein in Christmas Day post claiming he dropped ties with sex offender ‘long before it became fashionable’