The French Minister of Finance criticized Trump's tariffs for damaging the credibility of the dollar, supporting the independence of the Federal Reserve (FED) and Powell.

Recently, U.S. President Trump's radical tariff policy has sparked discontent among various countries. French Finance Minister Eric Lombard directly criticized the tariffs for damaging the credibility of the dollar and expressed support for U.S. Federal Reserve Chairman Jerome Powell (. Additionally, Chicago Federal Reserve Bank President Austan Goolsbee also warned the Trump administration on Sunday not to attempt to undermine the independence of the Central Bank.

The French Minister of Finance directly criticized Trump's tariffs for damaging the credibility of the dollar.

French Finance Minister Eric Lombard directly criticized U.S. President Trump in an interview with the "Sunday Forum" newspaper, stating that his long-standing radical measures on tariffs have harmed the credibility of the dollar.

Lombard stated that the result will be an increase in the cost of debt repayment and severe turmoil in the national economy, and believes that the consequences will sooner or later force the United States to negotiate to end the tensions.

Regarding the tariff issue, the French Minister of Finance stated that the 10% tariff imposed by Trump on EU imported products does not constitute a "common ground," and Europe's goal is to establish a free trade area with the United States.

A 10% increase "is unsustainable for the U.S. economy and poses significant risks to global trade."

Lombard strongly supports Powell

The tension between U.S. President Trump and Central Bank Chairman Jerome Powell has escalated once again. Trump has not only publicly criticized Powell multiple times for not cutting interest rates to stimulate the economy, but White House economic advisor Kevin Hassett has also stated that the Trump administration is "studying" whether it has the authority to replace Powell. This could not only impact the independence of the Federal Reserve but also lead to severe fluctuations in global financial markets.

)Is Trump considering replacing Federal Reserve Chairman Powell? White House advisor: still under study(

French Finance Minister Eric Lombard warned that if President Trump dismisses Federal Reserve Chairman Jerome Powell, the credibility of the dollar will be threatened and the U.S. economy will fall into instability.

Austan Goolsbee: The independence of the Federal Reserve (FED) is very important.

In addition, Chicago Federal Reserve Bank President Austan Goolsbee also warned the Trump administration on Sunday not to try to undermine the independence of the Central Bank.

I strongly hope that we do not fall into an environment where monetary independence is questioned. This would damage the credibility of the Federal Reserve (FED).

In countries where the Central Bank lacks monetary independence, the fact is that inflation is higher, growth is slower, and the job market is worse.

The structure of the Federal Reserve is independent of politics, so the legal basis for firing its chairman is questionable. Trump's remarks again demonstrate the president's efforts to strengthen control over all departments of the U.S. government.

Powell stated that he would not retire before the end of his term and reiterated on April 16 at the Chicago Economic Club that the independence of the Central Bank "is a legal issue, and we cannot be removed unless there is just cause."

This article criticizes Trump's tariffs as damaging to the credibility of the dollar by the French Minister of Finance, supporting the independence of the Federal Reserve and Powell. It first appeared in Chain News ABMedia.