ECB Worried About US Trade Policy Outcomes, Relaxed About Domestic Growth
According to the ECB’s monthly economic bulletin, risks to global growth are getting higher as Donald Trump’s trade policy causes more harm. Members declared: "Downside risks to the global economy have intensified amid actions and threats regarding trade tariff increases by the United States and possible retaliation by the affected countries".
The European Central Bank also claims if Washington is to do everything it had promised in terms of imposing tariffs, the average U.S. tariff rate would hit levels not seen in the last 50 years.
Still, Eurozone growth remains firm and short-term indicators reflect sustained, broad-based expansion, the bulletin concluded.