7 April | Euro

ECB’s Schnabel expects negative impact of Trump's import tariffs on Europe and US

ECB’s Schnabel expects negative impact of Trump's import tariffs on Europe and US

Isabelle Schnabel of the European Central Bank (ECB) stated that US import tariffs are contributing to global trade uncertainty and exacerbating the European Union's structural problems. The regulator will keep a close eye on the dynamics of inflation and GDP growth in the region following the implementation of the US restrictions, she noted during an economic forum in Italy.

When announcing the new tariffs last Wednesday (April 2), Donald Trump declared the date Liberation Day, framing it as a symbol of the US’s path to prosperity. However, the ECB's Schnabel expressed skepticism about the US president's choice of wording. She argued that these measures would destabilize global trade and harm not only partner countries of the US, but also the States itself.

Schnabel also emphasized that the European Union has never aimed to obstruct US economic growth. EU leaders, she noted, are solely focused on fostering prosperity within their own region.

Elena Berseneva MarketCheese
Period: 11.06.2025 Expectation: 1700 pips
EURUSD strengthen ahead of ECB meeting
Today at 11:44 AM 44
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segments "Metals" and "Oil and gas"
Period: 10.06.2025 Expectation: 700 pips
NVIDIA regains its status as world’s most valuable company and races to 148
Today at 10:16 AM 20
Period: 06.06.2025 Expectation: 1100 pips
USDCAD falls on rising oil prices and Trump's tariff threats
Today at 09:40 AM 13
Period: 20.06.2025 Expectation: 120 pips
Selling SPX down to 5,945
Today at 09:31 AM 14
Period: 16.06.2025 Expectation: 7300 pips
Buying Tesla shares with target at 400 amid upcoming robotaxi launch
Yesterday at 11:34 AM 71
Period: 06.06.2025 Expectation: 500 pips
AUDUSD failed to overcome resistance level of 0.65 again
Yesterday at 10:12 AM 50
Go to forecasts