ECB's Nagel on Tariffs and Inflation

During his visit to Washington, Joachim Nagel, a member of the European Central Bank (ECB) Governing Council and Bundesbank President, expressed his confidence that the inflationary effects of tariffs would be more pronounced in the United States compared to Europe.

"I am fairly certain the inflation effect caused by tariffs will be stronger in the United States than in Europe," Nagel stated. He further elaborated on the potential economic growth impacts, noting, "As far as economic growth is concerned, which of course also depends on the level of the respective tariffs, the impact in Europe will also be significant for Germany."