European Central Bank (ECB) President Christine Lagarde during a press conference on the interest rate decision in Frankfurt, Germany, Thursday, December 12, 2024.
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European Central Bank President Christine Lagarde told CNBC on Wednesday that Europe must “get ready” and anticipate possible trade tariffs imposed by incoming U.S. President Donald Trump.
“What we need to do in Europe is prepare ourselves and anticipate what’s going to happen in order to respond,” she told CNBC’s Karen Tso.
Trump has threatened to impose tariffs on goods imported from the European Union into the United States and has repeated those claims since taking office on Monday, telling reporters that the EU “treats us very, very badly. So they’re going to do it for the tariffs.”
EU Economic Commissioner Valdis Dombrovskis told CNBC on Wednesday that the EU would defend its economic interests if needed. Respond “in an appropriate manner.”
This is a breaking news story and will be updated soon.
