Trump’s tariff will strike the United States more power than Europe: Santander

The White House protection policies can strike the United States from Europe in the short term, Santander BankCNBC CEO said Thursday, as definitions affect local consumers.

“Definitions (is) a tax. It is a consumer tax.” Anna Putin said in an interview with Karen Tsu of CNBC in Brussels on the sidelines of the European 2025 IIF summit. “In the end, the economy will pay a price. There will be less growth and there will be more inflation, and other equal things.”

President Donald Trump has imposed – sometimes suspended or canceled – a large number of definitions on imports in the United States since his second administration began in January. It seeks to enhance local manufacturing and reduce the trade deficit between the largest economy in the world and its commercial partners.

Putin is not alone in its warning regarding the impact of negative definitions on the United States, as many analysts also say that duties can eventually cause amplification and avoid American consumers.

“In the short term, Europe will be less affected by the United States,” Putin said on Thursday.

Imposing the duties of the blanket and the country-which includes Wednesday news about a 25 % tariffs on all car imports In the United States, the event as of April 2 – has led to a number of reprisals, including from the historic US -Atlantic ally, the European Union.

The bloc has also taken steps to support its independence through a set of proposals that can be critically relaxed financial rules IRONCLAD Financial Rules and filling nearly 800 billion euros (863.8 billion dollars) towards the higher defense expenses in the region.

“European banks today are more ready to lend and support the economy more. We are strong. We have capital,” said Pot. It also called for more “flexibility” in the European Union regulations that currently define “temporary stores” for European lenders at the top of the minimum capital requirements to enhance their flexibility in the case of financial shocks.

It strengthened the latest plans of the European Union-Germany’s steps to reform the long-term debt policy to accommodate the augmented security spending-German and European defense shares in recent weeks.

However, Germany relies heavily on the besieged car sector-the third largest source in the world is exposed to flagrant transformations in trade patterns and may have been exposed to Stagnation As a result of the American definitions, the ruler of the German central bank, Joachim Nagil, warned earlier this month.

Putin-who was the fifth largest car lender in the United States and was Click on expansion Its Atlantic operations Closure Some physical branches in the United Kingdom – painted an optimistic picture of the state of the European economy.

“As of today, we believe that the United States will slow down more than Europe, and other equal things, because Germany is a third of the eurozone economy. This is huge. So it will give a boost,” she said, while she also admitted that the inability to be unable to get rid of clarity on the coming monetary policy of the European Central Bank.

The central bank is expected to continue on a large scale with the rate of interest rates of 25 Basia during its next meeting on April 17. It also reduces monetary policy In early March and indicated at the time that its monetary policy became “less restricted”.

“The basics of the economy are strong, but uncertainty and volatility (is) at historical levels. Therefore, there is a really difficult decision. Therefore, there is no doubt that the customs tariff is a tax on consumers (consumers), this means slower growth, and this means higher inflation.”

“How much growth and how high the inflation, we don’t know. But when you don’t know what will happen in the next few months, you will wait for a car to buy, you will wait to buy the refrigerator. If you are a company … you will wait to see where the tariff strikes more difficult. This means slowing the activity.

Botín added that, as a result, “there is a situation that must be provided for … prices are declining, but perhaps not quickly.”

Speaking to TSO’s CNBC early in the day, European Central Bank Policy maker Pierre Wench also indicated that the American tariff war was Awesome decision -making in the bank.

“If we forgot the customs tariff …. we would have been going in the right direction. Then the question was more question about controlling the pace of discounts and where we landed,” he said. “You are like, as you know, inflation may be the boring part of (20) 25, and (20) 25 is not a boring year. But if you add a tariff to the equation, it has become more complicated.”