Brussels - Saba:
The President of the European Central Bank, Christine Lagarde, urged Europe to avoid any trade war with the United States that threatens to wipe out global economic growth.
Lagarde said in an interview with the Financial Times that "a large-scale trade war is not in anyone's interest and will lead to a global decline in GDP," adding that "the European Union needs not to retaliate but to negotiate with US President-elect Donald Trump, who has threatened to impose comprehensive customs tariffs of up to 20 percent on all US imports."
The President of the European Central Bank, Christine Lagarde, urged Europe to avoid any trade war with the United States that threatens to wipe out global economic growth.
Lagarde said in an interview with the Financial Times that "a large-scale trade war is not in anyone's interest and will lead to a global decline in GDP," adding that "the European Union needs not to retaliate but to negotiate with US President-elect Donald Trump, who has threatened to impose comprehensive customs tariffs of up to 20 percent on all US imports."