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The White House protectionist policy may in the short term get in the US stronger than Europe, Santander BankThe CNBC Executive Chairman told Thursday when tariffs are charged for domestic consumers.
“Tariffs (are) tax. This is a consumer tax.” Ana Batin said in an interview with CNBC Karen TSO in Brussels on the sidelines of the IIF European Summit in 2025. “Ultimately, the economy will pay the price. There will be less growth, and inflation will be more, other things.”
President Donald Trump imposed – and sometimes rejected or recalled – many tariffs for imports in the US since its second administration began in January. It seeks to promote domestic production and reduce the trade deficit between the world’s largest economy and its commercial partners.
The botin is not alone in the warning of the negative impact of tariffs on the US, and many analysts also say that responsibilities may eventually cause higher inflation and strain US wallets.
“In a relative basis, in the short term, Europe will be less affected than the US,” Botin said on Thursday.
Introduction of blankets and specific countries-which include news about Wednesday about A 25% tariff for all car imports The US, which has been in force since April 2, has led to a number of revenge measures, including the US Historical Transatlantic Ally, the European Union.
The block also took measures to strengthen its autonomy through a package of proposals that could be critically relaxed earlier, laid on financial rules and mobilized nearly 800 billion euros (863.8 billion) to higher cost defense costs.
“European banks are ready to borrow and support the economy more today. We are strong. We have the capital,” Botin said. She also called for greater “flexibility” in the EU rules that currently determine “buffers” European lenders, which should follow the minimum capital requirements to strengthen their stability in the event of financial shocks.
The latest plans of the EU-and-steps of Germany on major repairs of its long-standing debt policy to maintain the fortified security costs-German and European protection reserves in recent weeks.
However, Germany depends heavily on its restrained auto-storage sector-packed the third largest exporter in the world vulnerable to sharp shifts in trading models and maybe Recession risks As a result of the tariffs in the US, the German Governor of the Central Bank Joachim Nagel warned earlier this month.
BotÃn-Chi Bank-Fifth by quantity Car lender in the USA and was push up to expansion its operations transatlantic time closing However, some physical industries in the UK – drawn an optimistic picture of the European economy.
“Today, we believe that the US slows down more than Europe, other things are equal because Germany is a third of the Eurozone economy. So, it will give impetus,” she said, also acknowledging that the recent unpredictability has clouded clarity in the following stages of the European Central Bank’s monetary policy.
The Central Bank is expected to continue with a 25-base interest rate during the next session on April 17. also softened the monetary policy In early March and at the time, he mentioned that her monetary policy became “much less restrictive.”
“The basics of the economy are strong, but uncertainty and volatility (is) at historical levels. So, it is a really difficult solution. Therefore, there is no doubt that tariffs are a tax on consumers (s), which means slow growth, which means higher inflation,” Botin said.
“How much slower growth and how much higher inflation we do not know. But if you don’t know what happens in the next few months, you will wait to buy a car, you are going to wait to buy a refrigerator. If you are a company … You expect the tariffs stronger. So, it will mean slowing activity.
Botin added that as a result “is a matter to …
Speaking in front of TSO CNBC at the beginning of the day, ECB policy Pierre Wents also noted that the US tariff war was burned the decision of the bank’s decision.
“If we forget the tariffs …. We went in the right direction. Then the question was a more issue of subtle timing and where we land,” he said. “I liked, you know, inflation can be a sad part (20) 25 and (20) 25, it’s not a sad year. But if you add tariffs to the equation, it is becoming more complicated.”
