European Central Bank's Francois Villeroy de Galhau:
- Trump has signed up the whole world to a “lose-lose game” on trade based on flawed economic arguments
- Trump’s attack on trade to dampen economic growth, including for the US, and threaten to undermine financial stability
- Villeroy called for de-escalation to avoid a spiral of rising tariffs
- “It’s more crucial than ever, across the Atlantic, to tell the truth, to fully assess the damage of a trade war, and to open the way for a possible positive dialog”
Bank of France Governor Villeroy was speaking in New York.
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Earlier Trump reversed some tariff policies, and also on firing Powell:
