Trump’s tariffs push will hit the U.S. harder than Europe: Santander

Home-house Protection policies could fill the hardest of Europe in the short time, Bank SantanderThe executive seat said CNBC on Thursday, as fees take a toll on domestic consumers.

“Fees [are] a tax. It is a consumer’s tax. Ana Botín said in a CNCC KENPT TSO in Brussels the 2025 IIF, the economics that will be less growth and there will be more inflation, other equal things. “

The President Donald Trump has imposed – and to the suspended times – a bunch of fees on the imports in the matters in your second administration began in January. Is looking to promote domestic manufacture and reduce trading defumes between the world’s larger economy and their commercial companions.

The botín is not only in their notice as to the United States negative fees, with many analysts even telling you that duties may inflate inflation of the United States consumer’s wall.

“On a relative basis, in the short term, Europe will be less affected than the US” “Botín said on Thursday.

The imposition of blanket and of the specific features of the country – including the news of wednesday of a 25% fee on all car imports To the us, effect by April 2 – I would worn to many repaired measures, including from the US TransAllantic love, the European Union.

The block also took steps to bolt their self-bound by a proposal petting that could relax the mobilization almost the 800 billion of my upper mixes.

“The European banks today are ready to lend more and support the economy of more. We are strong. We have the capital”, Botín said. He also called more “flexibility” in the EU regulations that are currently the Europeans Lenders should hold on top of the minimum capital requirements to warm their resistance to the event.

The last plans ile – gentleman’s paws to transbate their long dabbing spouse – having been dressed in German and Europeans defense in weeks.

However, Germany is very reliable on his third-greater third-third vulnerable sector in the chief changes in trade and potentially exposed to Recessionary risks The outcome of the US Upper US Rate the Governor Central Bank Joachim Level has noticed before the month.

Botín – which bank is the largest auto borrower in the United States and has been push to expand their transatlantic operations while Shuttering Some monical branches in the United – depending a optimistic picture of the state of the European economy, however.

“Like today, we believe the floor with more than the europe, equal affair, because Germany is also the corporation.

The central bank is expected to proceed with a rough-base-punting interest rate during their next meeting on April 17. U and Even facilitating monetary policy Prompt March and signed in time that monetary policy had become “significant fewer restrictive.”

“Economy fundaments are strong but uncertainty and volatility [are] to historic levels. So it’s a really hard decision. So there is no doubt that fees are a consumer setting[s]It means a slower growth, it means higher inflation, “botín said.

“How much slowest growth and how much the further inflation, we do not know that happening in the next few months, you will be bought a slaughter. If you are looking forward to the fees. If this will wait for the fees.

Botín added that, as, there is a case to do … fare down, but probably no faster. “

Talk to CnBBC’s Tsarlair on the day, ECB Policywamer Pierre WUNNCASSED that the rates war Incoming the bank decision. I am

“If we forget the rate … DuLa we go to the right display. Then the question has been more a fond of tuning tuning of the Peace of the Peace of the Peace of the Peace, We” mentioned. “I was, you know, you know, inflation could be the moral part of [20]25, and [20]25 is not a boring year. But if you add fabric to equation, it’s becoming more complicated. “