European Central Bank officials are warning that proposed protectionist trade policies from a potential Trump administration could significantly hinder global economic growth. Trump intends to impose tariffs, including a 10% blanket tariff on foreign imports and 60% on Chinese goods, aimed at reducing the U.S. trade deficit. ECB board member Olli Rehn cautioned against a new trade war while Austrian central banker Robert Holzmann highlighted possible increases in U.S. interest rates and inflation, which may impact both the eurozone and global markets. The ECB must prepare for these challenges to ensure economic stability.