The European Central Bank leader (ECB), Isabelle Shenabel, said that Trump’s “liberation day”, as the announcement of the new tariff package of the new American president may represent the end of global free trade. “We have ever lived with liberalization, it was not free, but it seems that it actually represents the end of global free trade,” said Shenabel, during the thirty -sixth workshop on economics and financing at the European Embrolate home. The data was released by the official account account on X.
Shenabeel said the moment is “perfect” to enhance the international role of the euro, while remembering that the currency is the second largest border in the world. “We need to create and attract many investors who are now looking for alternatives to investments in dollars,” he said.
Shenabel also said that Europe “has not been born to steal the United States.” “Today it must be made sure that Europe is able to resist the opposite winds. It is time to make Europe stronger,” he said.
Trump’s tariff came into effect on Saturday, with 10 % of the global customs tariffs on products imported by the United States. The measure reaches more than 180 countries. The minimum general average rate of 10 % is valid today, while individual definitions will be valid next Wednesday (9). For the European Union, the United States imposed 20 %, which will be valid from Wednesday. The European bloc is to respond to the Trump tariff.
