Statements made by the ECB executive from Madrid, and echoed in Berlin, indicate that Europe has to respond to U.S. tariffs in a logical, prudent and sensible manner, as an escalation of the trade offensive must be avoided.

Despite the current uncertainty and the reaction of the markets with sharp falls, De Guindos is optimistic and maintains that it is a wake-up call for Europe to be more autonomous and independent in energy, defense and economics.

In his opinion, we must try to negotiate with the United States, with a cool head and not be overwhelmed, but showing our strengths and willingness to negotiate, he explained during his speech at the assembly of the Spanish Banking Association (AEB).

He also advocated that Europe should complete the integration of the goods and services markets, which limits productivity, as well as the capital markets union and the banking union.

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