Lagarde: “Trump’s tariffs will have a negative impact worldwide”

Brussels – The tariffs announced by US President Donald Trump will have a negative impact worldwide, with damage depending on their scope, duration, and the outcome of negotiations, Christine Lagarde, president of the European Central Bank, said Wednesday.

“(The impact) will be negative anyway the world over. The density and durability of the impact will vary depending on the scope, the products targeted, the duration, and whether or not negotiations take place,” Lagarde said in an interview with Irish radio Newstalk.

“Let’s not forget that increasing tariffs, because they prove harmful even to those who impose them, often leads to negotiating tables where people actually sit down, discuss, and eventually remove some of these barriers,” the ECB president said.