ECB President Warns of Severe Global Economic Impact from Potential Trade War, U.S. Particularly at Risk

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Published Mar 14, 2025, 09:04 AM

European Central Bank President Christine Lagarde has warned that a full-scale global trade war, potentially triggered by escalating trade disputes initiated by former U.S. President Donald Trump, would have severe consequences for the world economy. Lagarde highlighted that the United States would be particularly affected by such a scenario. Lagarde's comments come amid heightened tensions between the U.S. and the European Union, with the U.S. imposing tariffs on various imports, prompting retaliatory measures from the EU. She noted that while the immediate impact would be felt in Europe, the long-term effects could be more detrimental to the U.S. economy. In addition to the economic fallout, Lagarde suggested that a trade war could re-energize Europe's push towards greater unity, potentially serving as a 'wake-up call' for the continent to strengthen its collective response to global economic challenges. She mentioned that increased spending on defence and infrastructure by the European Commission and Germany, as well as the UK's participation in Europe's security efforts, could be part of this 'collective waking up'.

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Sources

jp.reuters.com(2)bloomberg.com(2)agerpres.ro whatsapp.com

Markets Today

@marketsday

A full-scale global trade war would hurt the United States in particular and could re-energize Europe's push towards unity, #European Central Bank President Christine #Lagarde said

ロイター

@ReutersJapan

Trade war hits the United States with advantages that promote European cohesion = ECB President https://t.co/LAX7nhVgt3 https://t.co/LAX7nhVgt3

AGERPRES

@agerpres

Christine Lagarde (ECB): The effects of the trade war on the world economy will be severe https://t.co/ZCK2j4vPog Follow AGERPRES news on WhatsApp > https://t.co/sQY929ySV3

Story Timeline

1 day ago•Latest version

Lagarde Warns of U.S. Harm from Global Trade War, Sees Opportunity for European Unity Amid Trump's Tariffs

3 days ago

Lagarde Warns of Severe Impact from Global Trade War, Kallas Says China Benefits as S&P 500 Falls

3 days ago•Original version

ECB President Warns of Severe Global Economic Impact from Potential Trade War, U.S. Particularly at Risk

ECB President Warns of Severe Global Economic Impact from Potential Trade War, U.S. Particularly at Risk

How large will Trump's EU tariffs be?

US tariffs on European cars before May?

Will the EU impose tariffs on the U.S. before May?

Sources

Story Timeline

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