EU policy-makers lash out at Trump’s trade policy

Central banks say tariffs will create “many losers” in both Europe and the US

Francois Villeroy de Galhau
François Villeroy de Galhau said that “interpreting Donald Trump’s intentions was an effort beyond his modest capabilities”
World Economic Forum / Greg Beadle

Few central bankers in Europe have had anything positive to say about the US administration’s policy pivot over the past week.

April 2: ‘Liberation day’

US president Donald Trump imposed his much-touted tariffs, including a blanket 20% levy on the European Union, on April 2 – a date the US president referred to as “liberation day”.

European Central Bank president Christine Lagarde spoke to Newstalk a few hours before the tariffs were enacted, and encouraged the EU to take a “march towards

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