Mumbai, March 20 -- Euro slipped to a one-week low against the dollar on Thursday after European Central Bank (ECB) President Christine Lagarde warned that a full-scale trade war with the United States could significantly harm the euro zone economy and potentially lead to a surge in inflation. ECB analysis suggests that a US tariff of 25% on imports from Europe would lower euro area growth by about 0.3 percentage points in the first year, she stated. A European response in the form of raising tariffs on US imports would further increase this to about half a percentage point. The brunt of the impact on economic growth would concentrate around the first year after the rise in tariffs; it would then diminish over time, however leaving a pers...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.