President Donald Trump would put the dollar trust in the line and facilitate the American economy if he left federal reserve chairman Jerome Powell, French finance minister Eric Lombard warned.
“Donald Trump has hurt the dollar's credibility and his harsh measures on tariffs – in the long run,” Lombard said in an interview published inLa Tribune Sundaynewspaper. If Powell pushes “this trust will be further hurt, and development in the bond market.”
The result will be costly to serve the debt and “the country's largest economic separation,” Lombard said, adding that the results would bring America sooner or later to speak to end the tension.
Lombard's comments came after Trump, frustrated with Powell's attention cutting interest rates, posted on social media on Thursday that “Powell's termination could not come quickly enough.” It was not clear if he meant he wanted to set fire to Powell or he was eager to end his period, which is May 2026.
President Emmanuel Macron has opposed Trump on a ranks of issues including Ukraine, trade and even fled to France to American -based scientists whose federal research funding has been cut off.
However, Lombard's views are usually focusing on the American interior.
Read more:Trump's reading If Powell's removal is an option, Hassett says
On top of the tariff, the French finance minister said the 10% tariffs Trump has imposed imports from the EU does not make a “common foundation” and that Europe's goal is for the free trade area with America.
The 10% rate is “a large increase that is not sustainable for the American economy and represents a significant risk to the world trade,” Lombard said.
The finance minister also wanted the European CEO to show “patriotism” and work with their governments so that the region does not lose.
On Thursday, French billionaire Bernard Arnault, whose LVMH group owns Champagne labels like Moët & Chandon and Veuve clicquot and Hennessy Cognac, appeared to suggest that EU officials did not push hard for tax agreement.
This story was previously shown Bahati.com