ECB’s Centeno: ‘Too Early to Assess’ Impact of US Tariffs

3 April 2025

ECB’s Centeno: ‘Too Early to Assess’ Impact of US Tariffs
Mario Centeno, governor of Banco de Portugal, at the European Central Bank Forum on Central Banking in Sintra, Portugal on June 26, 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 Thursday that it was too early to evaluate what the impact of the recently announced US tariffs was going to be.

In comments to journalists in Praia, Cabo Verde, Centeno, who heads the Banco de Portugal, said that policymakers must assess ‘whether we are facing a de facto structural change in international trade’ and ‘give economic agents time to adapt to these changes.’

Economic, monetary, budgetary and supervisory policies had to adapt to the new reality, but this was not going to happen immediately, he said.

‘It is too early to assess this, so we must remain calm’, he said.

 

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