Francois Villeroy de Galhau, the head of the Bank of France and a member of the European Central Bank (ECB), warned on Wednesday that U.S. President-elect Donald Trump's economic agenda could reignite inflation in the United States and negatively impact global economic growth.
"The programme risks bringing back inflation to the United States," Villeroy said in an interview with France Inter radio. "It risks lowering growth a little bit, all over the world. It remains to be seen if the reduction will be felt more in the United States, China or in Europe."
Trump has proposed imposing a tariff of 10% or higher on all goods imported into the United States, a move he claims would help eliminate the country's trade deficit. However, Villeroy de Galhau warned that U.S. consumers would likely bear the primary cost of these tariffs.
"Protectionism almost always means reduced purchasing power for consumers," Villeroy stated.
(Source: Reuters)
BD-Pratidin English/Mazdud
