The trade war between the US and China threatens the European economy - ECB.

Member of the Board of the European Central Bank Pier Carlo Padoan expressed his outrage over the trade war between the US and China, which could negatively impact the eurozone. He warned that this situation could create significant problems for Europe even before direct trade barriers are introduced within the bloc.

According to Reuters, the ECB has cut interest rates five times since June, and investors expect further rate cuts by the end of the year to stimulate the economy, which is trying to recover after two years of near complete stagnation. It is noted that inflation rose to 2.5% last month, but the ECB expects it to return to the target level of 2% by this summer after many years of exceeding this figure.

Padoan emphasized that the greatest threat to Europe is the US trade policy, which could damage its economy even before direct trade barriers are introduced in response. 'The situation is serious, as China is a defining force that the global economy faces,' the chairman stressed.