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ECB's Schnabel: Trade fragmentation is structurally harmful for economic growth and inflation
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ECB's Schnabel: Trade fragmentation is structurally harmful for economic growth and inflation
New
2025.04.02 19:42
2025.04.02 19:42
2025.04.02 19:42
European Central Bank (ECB) board member Isabel Schnabel said on Wednesday that trade fragmentation is structurally harmful for economic growth and inflation, per Reuters.
Commenting on tariffs during an interview on Ireland's Newstalk radio earlier in the day, "it will be negative the world over and the density and the durability of the impact will vary depending on the scope, on the products targeted, on how long it lasts, on whether or not there are negotiations," ECB President Christine Lagarde said.
"There is a lot less excitement about investing in the US at the moment, a stop and hold until there is more certainty," Lagarde added.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.04.02
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EUR/USD adds to initial gains and breaches 1.09 - Danske Bank
EUR/USD seesawed on yesterday's tariff announcement, initially rallying above 1.09 on the relatively benign 10% flat tariff applied to all US trading partners, declining on the more aggressive reciprocal tariff measures, and then moving back above 1.09 again, Danske Bank's FX analyst Stefan Mellin r
New
2025.04.03 20:37US Dollar hit hard as markets digest Trump's tariff announcement
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is having a really bad day, trading at levels not seen since early October around 101.800 and correcting near 1.80% at the time of writing on Thursday.
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2025.04.03 20:35USD/JPY: Low achieved last month at 146.50/145.80 is first support - Societe Generale
USD/JPY rebound petered out at the 200-DMA near 151.30/151.60 last month, Societe Generale's FX analysts report.
New
2025.04.03 20:29AUD/USD jumps to near 0.6350 as US Dollar plummets after Trump's tariff plan
The AUD/USD pair moves higher and advances toward the two-week high of 0.6350 in Thursday's European session.
New
2025.04.03 19:48USD/JPY: Safe-haven flows push the pair downwards - OCBC
USD/JPY fell as demand for safe-haven overwhelms even as Japan is slapped with 24% reciprocal tariff rate.
New
2025.04.03 19:47NZD/USD: Current price movements are likely part of a range - UOB Group
New Zealand Dollar (NZD) is expected to trade in a 0.5670/0.5770 range vs US Dollar (USD). NZD rebounded two days ago and closed at 0.5701. In the longer run, current price movements are likely part of a 0.5640/0.5800 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.04.03 19:40DXY: ISM services, payrolls next - OCBC
Varied reaction in FX markets with open trade, growth-sensitive FX such as CNH, KRW, SGD, MYR and THB under some pressure post-tariff announcement. DXY was last seen at 102 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.04.03 19:18Oil: Tariffs weigh on oil - ING
Oil prices are under pressure this morning, following other risk assets lower, after the Trump administration unveiled a base tariff of 10% on all imports from all trading partners.
New
2025.04.03 19:13AUD/USD: Set to continue trading in a choppy manner - UOB Group
AUD could continue to trade in a choppy manner, likely between 0.6220 and 0.6320. In the longer run, sharp but short-lived swings have resulted in a mixed outlook; AUD could trade in a 0.6185/0.6340 range for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.04.03 19:06EUR/USD rallies as Trump's reciprocal tariffs hit US Dollar hard
EUR/USD soars above the psychological figure of 1.1000 in Thursday's European session. The major currency pair strengthens as the US Dollar (USD) takes the bullet for long-term transition in the United States (US) economy.
New
2025.04.03 19:03Disclaimer:
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