Trump's tariffs will be negative the world over, says ECB's Lagarde

Mr Trump's tariffs are expected to be universal across all European exports into the US and to be in the region of 20%

"It will be negative the world over and the density and the durability of the impact will vary depending on the scope, on the products targeted, on how long it lasts, on whether or not there are negotiations," Ms Lagarde said. (Arne Dedert/dpa via AP)

US President Donald Trump's planned tariffs will be negative across the world, with the damage depending on how far they go, how long they last and whether they lead to successful negotiations, European Central Bank head Christine Lagarde said on Wednesday.

"It will be negative the world over and the density and the durability of the impact will vary depending on the scope, on the products targeted, on how long it lasts, on whether or not there are negotiations," she said in an interview on Newstalk radio.