Trump is ‘clearly a threat’ to Europe, says head of European Central Bank

European Central Bank president Christine Lagarde has warned that the re-election of Donald Trump as president of the United States would be a threat to Europe.

In an interview with France 2 TV, she said the way Mr Trump conducted his first term as president was enough to raise concerns over his potential return to power.

“If we should learn lessons from history, from the way he led the first four years of his mandate, it is clearly a threat,” Ms Lagarde said during the interview.

“It’s sufficient to look at the trade tariffs, the commitment to Nato, the fight against climate change. In just these three areas, in the past [under Trump], US interests were not aligned with European interests.”

Observers said Ms Lagarde’s comments marked a departure from the customary practice of central bank’s leaders to avoid involvement in political matters.

She was asked if a secondTrump presidency could leave Europe alone in supporting Ukraine against Russia’s full-scale invasion. To this, Ms Lagarde said this was unlikely “because in the US Congress, there are a number of elected members who are deeply hostile to Russia’s horrific war against Ukraine and who will continue to finance and support Ukraine”.

She continued: “You mustn’t forget that even in a presidential system like the American one, the Congress has considerable strength.”

Asked about European inflation, the 68-year-old ECB president said the “hardest and worst bit” of dealing with inflation was likely over. She noted that if the ECB could be certain that inflation had dropped to the 2 per cent level, they would consider cutting interest rates.

“I think that rates, barring any further shocks or unexpected data, will not continue to go up. And if we win our fight against