15-04-2025: Llull interviewed by IB3 Ràdio on Trump’s trade war and its global economic impact.
Joan Llull warns that Donald Trump’s aggressive tariff policies could have long-lasting consequences for global trade, inflation, and economic stability—especially if the escalation continues over the next four years. In the interview, Llull highlights the fragility of global supply chains and emphasizes that the cost of this trade war may ultimately fall on consumers and the very voters Trump seeks to appease.
He notes that while the direct impact on some regions may be limited due to low export volumes to the U.S., the indirect effects—such as rising inflation and reduced global economic activity—could be significant. Llull expresses concern over the risk of recession in Europe, especially if trade tensions trigger a new round of inflation and force central banks to tighten monetary policy further.
Regarding Europe’s response, he argues against retaliatory tariffs, favoring instead a strategic opening of markets and increased trade cooperation with other global partners to strengthen the EU’s position. He also stresses that any support plans, like Spain’s proposed €14.1 billion relief package, should focus on helping businesses adapt their supply chains rather than simply compensating short-term losses.
Ultimately, Llull underscores the need for coordinated action and strategic vision in the face of growing global instability, warning that failure to act could allow rival powers like China to fill the vacuum left by a retreating U.S.
