Core Viewpoint - The European Central Bank (ECB) official highlighted that U.S. trade measures could lead to a short-term decline in inflation within the Eurozone due to their impact on global economic expansion [1] Group 1: Impact on Eurozone Inflation - The trade measures from the U.S. may result in a decrease in the Eurozone inflation rate in the medium term, as actual interest rates in the Eurozone have risen and the euro has appreciated following the announcement of tariffs [1] - The unexpected strengthening of the euro since the announcement of tariffs contrasts with initial expectations of depreciation, which was anticipated to increase import costs and potentially raise inflation due to EU countermeasures [1] Group 2: Global Economic Implications - The trade measures could cause a shift of resources from high productivity sectors to low productivity sectors, leading to inefficiencies reminiscent of the 20th century, which may contribute to a sustained decline in global growth rates [1] - There is a possibility that trade diversification may facilitate a transition from a U.S.-dominated global system to a more multipolar system characterized by competition among various currencies for reserve status [1]