PARIS (Reuters) - Current economic developments in the United States under the Trump administration are a negative shock for the global economy but above all for the U.S. economy, French European
French Central Banker: Trump's Policy Hurts US Economy
PARIS (Reuters) - President Donald Trump's administration is inflicting more damage on the U.S. economy with its policies than on the rest of the world, France's central bank head said on Thursday.
While disruption was expected after the U.S. presidential election, the shock was proving to be stronger than expected, Bank of France Governor Francois Villeroy de Galhau said.
"It's a shock for the world economy, but even more so for the American economy," Villeroy said at a conference at the German embassy in Paris with his German counterpart.
"It's firstly a tragedy for the American economy," he added.
Opening a new front in a global trade war, Trump on Thursday threatened to slap a 200% tariff on wine, cognac and other alcohol imports from Europe.
"What is currently happening on the part of the U.S. administration is economic policy from a horror show," German central bank chief Joachim Nagel said.
Both central bankers said the economic turmoil presented an opportunity for Europe to jump start its economy and attract international capital for investment.
(Reporting by Leigh Thomas; Editing by Sudip Kar-Gupta and David Gregorio)
