ECB’s Rehn: Should aim at negotiated solutions for US tariffs

European Central Bank (ECB) policymaker Olli Rehn commented on US tariffs and the central bank's independence on Thursday.

Rehn said he ”can only hope the Trump administration can respect central bank independence.”

He further noted that the European Union (EU) should aim at negotiated solutions for US tariffs, encouraging the Trump administration to avoid these unnecessary, harmful tariffs.”

Earlier in the week, the ECB policymaker said, “US tariffs could cut global output by more than 0.5% this year and the next.”

Market reaction

As of writing, EUR/USD is struggling at around 1.0880, 0.07% lower so far.