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Christine Lagarde, President of the European Central Bank (ECB), at a press conference on the rate decision in Frankfurt, Germany, on Thursday, December 12, 2024.
Bloomberg | Bloomberg | Getty Images
Europe needs to “be ready” and anticipate possible trade tariffs from newly inaugurated US President Donald Trump, European Central Bank President Christine Lagarde told CNBC on Wednesday.
“What we need to do here in Europe is to be prepared and anticipate what will happen in order to respond,” she told CNBC’s Karen Tso.
Trump has threatened to impose tariffs on goods imported into the US from the EU and has repeated those claims since his inauguration on Monday, telling reporters that the EU has “treated us very, very badly. Therefore, they will be in for tariffs.”
Valdis Dombrovskis, the EU’s economy commissioner, told CNBC on Wednesday that if the bloc’s economic interests need to be protected, the EU will answer “proportionally”.
This is breaking news that will be updated soon.
