European economy would suffer from Trump tariffs, ECB's Stournaras says

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November 7, 2024 11:29 AM EST

FILE PHOTO: Member of the ECB governing council and Governor of the Bank of Greece, Yannis Stournaras talks during an interview with Reuters in Athens, Greece, October 11, 2023. REUTERS/Louisa Gouliamaki/File Photo

ATHENS (Reuters) - The European economy would suffer if Donald Trump enacted his pledges on tariffs and trade barriers, and this could impact European Central Bank policy, Greek Central Bank chief Yannis Stournaras said on Thursday.

"It will have a negative impact on the European economy and it will also have an implication for the exchange rate... so this has certain implications for our monetary policy," Stournaras told a conference.

He added that the actual outcome depended on what policies would be implemented by the incoming U.S. administration and ECB policy would continue on its present course while the world awaits concrete steps from Washington.

(Reporting by Lefteris Papadimas, writing by Balazs Koranyi; editing by Alexandra Hudson)


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