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In its regular economic bulletin, the ECB has stated on Thursday that there is an increased risk towards global growth due to the threat coming from the higher US tariffs towards Europe, as well as the possible retaliation of the affected countries. This view is in line with the policy statement published in July. Furthermore, according to Reuters, the ECB warns that if all the measures that were threatened would be implemented, the average US tariff rate would reach the levels that were not seen in the past 50 years.

In addition, the World Trade Organization predicts that the global trade in goods will lose its momentum in the 3rd quarter, again due to the trade tensions, which are slowing down the export orders, as well as the production and sales of automobiles. The growth is expected to be just above the trend and the quarterly outlook reading, composite of 7 forward looking components including the merchandise trade volume, export orders, automobile production and sales, electroni...

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