Europe's Growth Outlook Faces Challenges Amid Tariffs: Insights from Wegner
Malgorzata Wegner, EMEA Sovereign Ratings Director at Fitch Ratings, has emphasized that the growth outlook for Europe may deteriorate significantly should tariffs come into play. In an interview with Bloomberg's Guy Johnson and Anna Edwards, Wegner suggested that while the 'devil is in the details', the implications of tariff enforcement could lead to economic results falling short of earlier predictions. As Europe navigates a complex global trade environment, the potential for economic slowdown is becoming increasingly apparent. A study by the European Commission indicates that a 10% increase in tariffs across goods could reduce EU GDP growth by as much as 0.5% over two years, underlining the critical importance of these discussions for policymakers in the region.