According to ChainCatcher and Jin Shi data, European Central Bank board member Villeroy stated that a 25% increase in US tariffs in the second quarter would have a limited impact on European inflation, but could lead to a 0.3 percentage point decline in the Eurozone's annual GDP.
Villeroy said that in the short term, Trump's "lose-lose" strategy is damaging the United States, which can be seen from the Federal Reserve's downward revision of its forecast. Trump is undermining the multilateral system and increasing long-term risks to financial order and climate.