Trade wars ‘would hurt US worst’, ECB says



Clair Jones | Financial Times

An escalation in global trade tensions would hurt the US more than its economic rivals, research from the European Central Bank has claimed. An ECB paper published on Wednesday found that if Donald Trump’s administration was to raise tariffs and other barriers on imports by another 10 per cent — and other countries were to retaliate — growth would drop more sharply in the US than in either the euro area or China.

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