Brussels, 19 May (LaPresse) – "Since taking office in January, the new US administration has increased tariffs on imports of goods from a growing number of trading partners and on specific goods. The unpredictable and seemingly arbitrary logic behind the US tariff announcements has brought uncertainty about global economic policy to levels not seen since the darkest days of the Covid-19 pandemic." This was stated by EU Economy Commissioner Valdis Dombrovskis at the spring economic forecast press conference. ‘The average tariff rate that the United States applies to imports is now higher than at any time since the 1930s. The US tariff announcements in April also caused very high levels of volatility in financial markets. This market volatility remains high and sentiment is fragile, as uncertainty over US trade and broader economic policy still looms,’ he stressed.
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