Is Trump's Victory Bad News for Europe?

Foreks - Andrzej Szczepaniak from Nomura argued that Donald Trump's victory in the U.S. presidential election would be “bad news for Europe.” Szczepaniak stated that Trump’s policies would imply tariffs, which could negatively impact economic growth in Europe. He said, "The European Commission is expected to respond in kind, which may lead to higher inflation in the Eurozone." Szczepaniak also emphasized that if firms are forced to bear these high costs, it could lead to the closure of some businesses and an increase in unemployment. He noted that the European Central Bank has been cautious and indicated that a 50 basis point cut should not be expected in December.