ECB’s Coeure: there are no winners in trade wars, just different degrees of losers
|Benoit Coeure, member of the ECB's Executive Board, during a scheduled speech this Friday touched upon the recent hot topic on trade tariffs and said:
• Winding back globalization is the wrong solution to address concerns
• There are now winner in trade wars, just different degrees of losers
• According ECB simulations US tariffs would have significant adverse effects on the global economy
• Falls in equity prices, prevailing uncertainty on retaliatory measures have already contributed to tighter financial conditions
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