Christine Lagarde, President of the European Central Bank, considered on Monday that the trade war launched by US President Donald Trump is expected to “walk towards independence.”
“It (Trump) is called” the Day of Freedom “with regard to the United States. I think we must now decide to take our destiny in our hands and I think it will be walking towards independence.”
After 25 % of the United States about aluminum and European, those valid that were applied to the auto sector will be held from Wednesday. Trump is expected to advance the mutual customs duties called So, with the aim of countries that stimulate customs tariffs on American goods and services.
“In order to put ourselves in a good position in negotiation, we need to show that we are not ready to give up,” said Christine Lagarde.
According to the European Central Bank, the euro area will be able to see 0.3 % GDP due to the Donald Trump trade war and 0.5 % for the European response in the first year.
“The Trade War creates only the losers”, Christine Lagarde insisted.
About inflation, the European Central Bank president was cautious due to the inflationary risks of customs rates: “Unfortunately, we are subject to many uncertainty, and when Trump suddenly decides to increase rates by 25 % in the auto sector or decide on the reciprocity that will be applied from April 2, this necessarily leads to changes.”
On Sunday, a European speaker said that the European Commission was ready to respond well with any American management against the economic interests of the European Union, but he argued that the priority was a request for a solution that was negotiated.
The European Commission spokesman, Olof Jail, said that the European executive authority, responsible for the commercial policy of the European Union, is “a fixed, harmonious, strong and balanced response to any unfair and vascular measures in the United States.”
The European Commission had initially identified in early April to start implementing imports of American training products that were evaluated in 26 billion euros in response to US exports and European aluminum exports. On Tuesday, a tariff must be applied to 4.5 billion euros, until April 13, to 18 billion euros.
Regarding the list of final American products that the European Union will propose counter -measures in response to Washington’s definitions, a generation simply noticed that “it will be well chosen to create the maximum impact on the United States and reduce the repercussions on the European economy.”
“It is an option that we will have to do very carefully and carefully,” Jill confirmed after an appointment with the stakeholders and member states.
