ECB’s Villeroy: Trump’s protectionism to be negative for economy

In an interview with France Culture radio on Wednesdaty, European Central Bank (ECB) policymaker and  Bank of France head Francois Villeroy de Galhau said that US President Donald Trump’s trade policies will most likely have a negative impact on the economy.

Key quotes

"There will very likely be a negative effect.”

"Protectionism is a seductive short-term policy, but in the long term it is a losing strategy.”

“France would likely avoid an economic recession in 2025.“