ECB Executive Board Member Issues Warning

European Central Bank (ECB) Executive Board member Piero Cipollone has cautioned that import tariffs announced by United States President-elect Donald Trump could potentially weaken the European economy.

Speaking at a financial conference in Milan, Italy, the central banker emphasized that the impact on growth would lead to lower consumption, and consequently, reduced pressure on consumer prices.

"All this put together makes me think that we will have a reduction in growth but also a reduction in inflation," Cipollone concluded.