Trump has vowed to impose reciprocal tariffs on a wide range of trade partners on Wednesday, which he has coined “Liberation Day”, saying the world’s top economy has been “ripped off by every country in the world”.
“He calls it ‘Liberation Day’ in the United States. I see it as a moment when we must collectively decide to take greater control of our destiny and I think it is a step towards independence,“ she said.
The ECB estimates that Trump's trade war could slash the eurozone's economy by 0.3 percent in its first year -- and by 0.5 percent if the EU retaliates.
“A trade war creates only losers,“ Lagarde said.
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