If Trump hadn't got into power then we would probably see the ECB and US Fed lowering interest rates at a similar pace. That is the problem with throwing dynamite around the economy, you leave the central bankers with no choice but to keep their defenses up which means higher rates. Tariffs, which are actually a tax on every American citizen, are driving inflation higher in America which was the root cause of interest rates being so high in the first place. Trump likes to blame all others but has shown nothing but incompetence and the makings of a failed dictator that we have seen many times in history. The fact that the US president, who put the head of the central bank into the position in the first place, is now leaning on what is supposed to be an independent decision making body for the benefit of the US economy is just another sign of his terribly weak leadership.
Tariffs did harm the economy within the short term. Especially astronomical rate hikes of over 150% (China tariffs). But I don't think Trump is a weak leader. He's actually doing a better job than Joe Biden. The fact that he quickly settled peace between Iran an Israel (immediate ceasefire), is something to be admired. Not to mention, the spending cuts achieved via his newly-formed D.O.G.E agency. All in an effort to Make America Stronger and Wealthy Again.
The only thing that can ruin it all is politicizing the FED. It could undermine investors' confidence in the US. I believe the FED should stay neutral for the benefit of all. But that's just my opinion. Whoever takes the reigns as Powell's sucessor, would surely meet with Trump's demands. The damage might be already done. Meanwhile, the ECB continues to cut rates like crazy. Is this a sign the EURO will fare better in the future? Could be. Right now, the EUR is stronger against the USD. Hopefully, Trump steers things in the right direction before it's too late.