EU's Moscovici: An escalation in EU-US trade tensions would hit financial markets

In an interview with Augsburger Allgemeine newspaper, the European Commissioner for Economic and Financial Affairs Pierre Moscovici warned about the risks to the financial markets due to escalating trade tensions between the European Union (EU) and the US.

Key Quotes:

“An escalation - no matter from which side - would have serious consequences for the economy, including for the financial markets, which would hurt all sides.”

“That’s why we need a gateway to get out of this spiral that ultimately damages the global economy and pulls everyone down with it.”