ECB’s Centeno: US Tariffs ‘No Good News for Europe’

26 November 2024

ECB’s Centeno: US Tariffs ‘No Good News for Europe’
Mário Centeno, Governor of the Banco de Portugal, at the European Central Bank Forum on Central Banking in Sintra, Portugal, on June 28, 2023. Photo by Sérgio Garcia/Your Image for ECB under CC BY-NC-ND 2.0.

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Mário Centeno said on Tuesday that potential tariff hikes by the new Donald Trump administration were not positive for Europe.

Speaking in an event in Lisbon, Centeno, who heads the Banco de Portugal, said that Europe must be careful to prevent inflation from undershooting the 2% target while it face risks like potential tariffs by US President-elect Trump.

Tariff hikes are ‘not good news for Europe’, he said.

Economic activity in the Eurozone is ‘stagnant’, according to Centeno, as ‘Europe doesn’t grow’.

Subdued growth is the price Europe had to pay to end inflation, he said.

 

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