Tariffs create stagflationary shock in long term, ECB's Knot says
ReutersApr 9, 2025 8:24 AM
AMSTERDAM, April 9 (Reuters) - The broad import tariffs imposed by U.S. President Donald Trump are likely to have a stagflationary impact in the long term, driving up inflation while economic growth stalls, ECB policy maker Klaas Knot said on Wednesday.
"As time progresses, we are stuck with the fact that a trade war is a negative supply shock. It is a stagflationary shock," Knot said at a conference at the Dutch central bank in Amsterdam.
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