MNI BRIEF: Tariffs Remain Negative For EU Forecasts

The impact of tariffs on the European Commission’s upcoming Commission Spring Forecasts remains negative, despite the conclusion of an interim U.S.-China trade truce, Economy Commissioner Valdis Dombrovskis told reporters on Tuesday.

While the commissioner noted that the U.S.-China accord is going in a “good direction”, its 30% tariff level on China-made exports “is still quite high”, he added. (See MNI INTERVIEW: US-China, US-UK Deals Diminish EU Leverage )

“But it may somewhat ease the trade diversion concerns we had,” Dombrovskis said, a reference to potential rerouting of U.S.-destined Chinese goods to the EU. 

The EC forecasts will be published on May 19.