European Central Bank President Christine Lagarde has said that US President Donald Trump's proposed tariffs will have a negative impact on the entire world.
"It will be negative across the world and the intensity and persistence of the impact will vary depending on the scope, on the products targeted, how long it lasts and whether there are negotiations or not," she said in an interview on Ireland's Newstalk radio.
The Trump administration has decided today to announce "reciprocal tariffs" against other countries in relation to US goods. These tariffs are expected to be imposed on products from Mexico, China and Canada, America's top trading partners.
According to Lagarde, there is still some work to be done in terms of eurozone inflation being sustained at its 2% target.
"We are now very close to the target so the disinflation process is underway but we are quite satisfied with the work we have done," she said.
(BalkanWeb)
