European Central Bank President Christine Lagarde said that while the recent agreement with the United States has reduced some of the uncertainty, the euro zone economy is likely to slow down this quarter and global trade remains uncertain.
Speaking in Geneva, Ms Lagarde said the current 15 per cent tariff on most European goods was slightly above the level assumed by the ECB in June but "well below" the severe scenario that had been planned. "Recent trade deals have eased some of the uncertainty, but not completely removed," she said on Wednesday. "Uncertainty remains because of the unpredictable policy environment." She added that industrial tariffs on pharmaceuticals and semiconductors were unclear.
Lagarde: Slowing economic growth, lingering trade uncertainty
2025-08-20 08:13:59
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