Trade war: Lagarde calls for ‘a march towards independence’ of Europe

Paris – The president of the European Central Bank advocated on Monday for a “march towards independence” for Europe to defend its interests in the face of American tariffs.

“He calls it ‘liberation day’ in the United States, I consider it a moment when we must together decide to take better control of our destiny and I think it is a march towards independence,” said Christine Lagarde on France Inter radio.

After steel and aluminum and before automobiles, President Donald Trump plans to announce his so-called “reciprocal” tariffs on Wednesday, which will change the rules of global trade and notably affect Europe.

“In order to be in a good negotiating position, you have to show that you’re not ready to back down,” said Christine Lagarde, as the EU prepares to respond to American tariffs. “A trade war only creates losers,” Christine Lagarde asserted.

According to the ECB, the eurozone could see its GDP reduced by 0.3%, and by 0.5% in the event of a European response, in the first year. (March 31, 2025)