FRANKFURT (Reuters) – Europe was right to respond to U.S. tariffs but a trade war is a negative for all sides involved and could push Germany, the bloc’s biggest economy, into recession this year, Bundesbank President Joachim Nagel told the BBC.
“We are in a world with tariffs, so we could expect maybe a recession for this year, if the tariffs are really coming,” the BBC quoted Nagel as saying on Thursday.
“I hope that there is the understanding within the Trump administration that the price that has to be paid is the highest on the side of the Americans.”
(Reporting by Balazs Koranyi; Editing by Bernadette Baum)
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