Trump has promised “Liberation Day” on April 2, when he plans to announce tariffs to prevent trade practices that his government considers unfair.
In an interview with the French public radio station, France Inter, Lagarda said that Europe was awaited by an existential moment.
“He calls it in the United States the ‘Liberation Day’. I see it as a time when we have to decide to take more control over our destiny, and in my opinion, it is a step towards independence,” said Lagard.
“In order for us to negotiate more effectively, we need to show that we are not just going to surrender,” added Lagard, the European Union (EU) preparing to respond to US tariffs.
The ECB estimates that the trade war began to decline the eurozone economic growth this year by 0.3 percentage points and 0.5 percentage points if the EU responds with countermeasures.
“There are only losers in the trade war,” Lagard said.
