ECB President Criticizes Trump's Tariff Plans

European Central Bank (ECB) President Christine Lagarde has openly criticized the incoming tariffs proposed by United States President Donald Trump, stating they will adversely affect the global economy. During an interview on Irish radio station Newstalk, Lagarde expressed uncertainty about the specifics of the tariffs but emphasized their potential negative impact.

Uncertainty Deters Investment

Lagarde highlighted how the increasing uncertainty from ongoing trade wars is making the US markets less attractive to investors. She advised a cautious approach, suggesting it's crucial to "stop and hold" until more clarity is achieved.

Focus on Domestic Solutions

Amid these challenges, Lagarde stressed the importance of focusing on domestic strategies to mitigate potential economic disruptions. She pointed out the need for preparedness regardless of the tariff's final form—whether blanket or sectorial.