Trump's tariffs aren't hurting Europe much, according to a new study
President Donald Trump holds up examples of tariffs, Thursday, Jan. 24, 2019, in the Cabinet Room of the White House in Washington.President Donald Trump's trade policies have so far had a mild impact on countries across the Atlantic even as they have cast a cloud of uncertainty over global growth.
The Trump administration last year placed sweeping tariffs on imported metal, including from Europe. But those and the retaliatory measures that followed have posed"only a modest adverse risk" to the bloc, said Vanessa Gunnella and Lucia Quaglietti, the ECB economists who authored the newThat could be in part thanks to ongoing trade tensions between the US and China, which have made the EU more competitive in some markets.
"It is estimated that the impact on the euro area as a whole would be small, even when the magnifying effects of global supply chains are taken into account," the ECB study said."However, the consequences of an increase in car tariffs may weigh significantly on some countries."
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