François Villeroy de Galhau, the head of France's central bank, has expressed concerns about Donald Trump’s aggressive tariff policies, labeling it as a detrimental approach that will have negative ramifications for economies worldwide, including the US. Villeroy emphasized that Trump's trade tactics transform the global economy from a positive-sum game to a scenario where all parties suffer losses. The imminent announcement of further tariffs by Trump has heightened apprehensions about the impact on the global economic landscape and exacerbated jitters in stock markets. Villeroy noted that the US is likely to bear the brunt of the consequences of Trump’s policies, as illustrated by recent forecasts showing diminished growth prospects and increased inflation rates. The central bank chief cautioned that Trump’s actions risk destabilizing the established multilateral system. Concerns are mounting that Trump’s tariffs, combined with tax cuts, are contributing to a considerable increase in America’s deficit. Moody's rating agency has warned of a significant rise in the deficit in the coming decade. Moreover, consumer confidence in the US has plummeted to its lowest level in over four years due to mounting inflation worries and the looming threat of a recession.