The tariffs promised by U.S. President-elect Donald Trump would upend international trade but may ultimately have a "minor impact" on inflation, European Central Bank policymaker Joachim Nagel said. Trump made tariffs a key element of his pitch to voters,

Leaders at the European Central Bank worry that trade barriers will curb EU economic progress more than they will push up Euro zone inflation.

Donald Trump’s proposed tariffs on goods could upend international trade and threaten higher inflationary pressures, the Bundesbank’s president said.

FRANKFURT (Reuters) -Two top European Central Bank policymakers signalled on Monday they were more worried about the damage that expected new U.S. trade tariffs would do to economic growth in the euro zone than any impact on inflation.