Europe must "be prepared" for potential trade tariffs from newly inaugurated U.S. President Donald Trump, the president of the European Central Bank told CNBC on Wednesday. After his inauguration, Trump told reporters that the EU has been "very,

The European Union’s Commissioner for the Economy has confirmed retaliatory actions against Trump’s incoming tariffs on goods imported from the EU region. The top economy official said that the EU is ready to defend its economic interests and will respond proportionately.

Europe must “be prepared” for potential trade tariffs from U.S. President Donald Trump, the president of the European Central Bank Christine Lagarde told CNBC at the World Economic Forum in Davos on Wednesday.

Traders are placing big options bets on the European Central Bank delivering at least one half-point cut to interest rates by the middle of the year.

The central bank reduced its one-week repo rate to 45% from 47.5% as a cycle of higher borrowing costs bore fruit in cooler price rises.