U.S. Economic Agenda and Global Impact

PARIS (Reuters) – U.S. President-elect Donald Trump's economic agenda risks bringing inflation back to the United States and harming global economic growth, according to Bank of France head and European Central Bank (ECB) member Francois Villeroy de Galhau.

Villeroy stated on France Inter radio, "The programme risks bringing back inflation to the United States. It risks lowering growth a little bit, all over the world. It remains to be seen if the reduction will be felt more in the United States, China or in Europe."

Trump has proposed a tariff of 10% or more on all imported goods into the United States, claiming it would eliminate the trade deficit.

However, Villeroy predicted that U.S. consumers would bear the majority of the burden from these tariffs, stating, "Protectionism almost always means reduced purchasing power for consumers."