ECB President: US Trade Tariffs Won’t Have Significant Impact on Eurozone Economy
Mario Draghi (ECB President) stated that trade tariffs announced by the United States and China, will have a small direct effect on the Eurozone economy. But meanwhile, they can hurt investor confidence and trigger retaliation.
Draghi also stated he is confident that inflation will rise to the target level of the ECB. Also, the head of the ECB added that salaries and inflation will grow as the economy recovers. Draghi noted that closer integration will allow the EU to solve economic problems, since the EU can not solve its problems at the national level.