ECB Official Highlights Risks of Trump's Tariffs on Global Economy

In a recent address, Piero Cipollone, a member of the European Central Bank (ECB) Executive Board, emphasized the significant impact that the tariffs imposed by former United States President Donald Trump's administration could have on the real economy. Speaking at a conference titled "Policy challenges in a fragmenting world: Global trade, exchange rates, and capital flow," Cipollone pointed out the increasing risk of division within the Western bloc due to these tariffs, which jeopardize longstanding international partnerships.

Long-term Consequences Could Be Severe

Cipollone further warned that the fragmentation caused by these tariffs might lead to profound medium- and long-term effects on global growth, stability, and prosperity. The ECB's concerns highlight the delicate balance of international trade relations and the potential for policy decisions to disrupt global economic harmony.