Trump's tariffs push will hit the U.S. harder than Europe in the short term, Santander chair says

Banco Santander’s executive chair, Ana Botín, warned that The White House’s protectionist policies may have a more severe impact on the U.S. than Europe in the short term, as tariffs will increase costs for domestic consumers. President Donald Trump’s tariffs aim to boost domestic manufacturing and reduce trade deficits but could lead to lower growth and higher inflation. Botín’s concerns echo those of analysts who predict that the U.S. will feel the negative effects of tariffs more than Europe in the near future.

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