Christine Lagarde, President of the European Central Bank, at an interest rate decision press conference in Frankfurt, Germany, on Thursday, December 12, 2024.
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European Central Bank President Christine Lagarde told CNBC on Wednesday that Europe must “be prepared” and anticipate potential trade tariffs by new US President Donald Trump.
“What we have to do here in Europe is 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 United States from the European Union — and has repeated those claims since his inauguration on Monday, telling reporters that the European Union has been “very bad for us.” “So they will be in an awkward situation.” Regarding definitions.
Valdis Dombrovskis, the EU Commissioner for the Economy, on Wednesday told CNBC that if there was a need to defend the bloc's economic interests, the EU would do so. Respond “in a proportionate manner.”
This is a breaking news story and will be updated soon.
