The tariffs imposed by US President Donald Trump on foreign goods do not protect the American market, but only harm its economy. This opinion was expressed by the governor of the Bank of France—i.e. the country’s Central Bank, Francois Villeroy de Galhau.

"Patronage is ineffective. This means that the rate of economic growth is decreasing, whereas inflation—increasing," de Galhau said in an interview with RTL radio.

He recalled that in January, when Trump became US president again, analysts had predicted that the American economy would grow by 2.5% in 2025, but now they are indicating an indicator of just 0.1%.

"Some even expect a recession in the United States," added the head of the Bank of France.

In his assessment, the current US administration's policy is harming not only the American but also the global economy.

But at the same time, according to the economist, Europe has suffered less than the US. Over the next two years, analysts do not expect a sharp increase in inflation in the European Union, but the pace of economic growth will slow down, although this will not lead to a recession.