ECB Vice President Kindos said on Tuesday that the trade war between the US and Europe involving retaliatory tariffs is bad news for all parties. “When you levy tariffs, you need to be prepared for retaliation from the other party, which can set off a vicious cycle. Ultimately, this could turn into a trade war, which would be extremely bad for the world economy,” Louis de Guindos said in an interview with the Finnish newspaper “Helsingh”. “This is a lose-lose situation for everyone,” he added.

ECB Vice President Kindos said on Tuesday that the trade war between the US and Europe involving retaliatory tariffs is bad news for all parties. “When you levy tariffs, you need to be prepared for retaliation from the other party, which can set off a vicious cycle. Ultimately, this could turn into a trade war, which would be extremely bad for the world economy,” Louis de Guindos said in an interview with the Finnish newspaper “Helsingh”. “This is a lose-lose situation for everyone,” he added.