ECB’s Nagel: Trump’s tariffs may have a minor impact on inflation

European Central Bank (ECB) policymaker and Bundesbank President Joachim Nagel said on Monday, “Trump’s tariffs may have a minor impact on inflation.”

He added, “global integration would have to decrease substantially to cause a noticeable rise in inflationary pressures.”

Market reaction

These comments have little to no impact on the Euro, as the EUR/USD pair keeps its range near  1.0500 at the press time.