The Vice President of the European Central Bank, Luis de Guindos, stated on Monday that it is extremely important to avoid the outbreak of a trade war, warning that there will be no winners in a potential trade war between the United States and the European Union, adding that "everyone will lose" as a result of an economic downturn.
The European official made the following statements:
We need a wise and intelligent approach regarding the announcement of tariffs. We need to maintain calmness. The analysis of the European Central Bank regarding tariffs is that it leads to an impact on supply (in terms of factors affecting inflation within the region). The effect of tariffs on inflation is less clear. All factors related to the monetary policy of the European Central Bank must be taken into account.
