On February 18th, EU Economic Commissioner Valdis Dombrovskis stated that the trade uncertainty surrounding US President Donald Trump’s plan to impose tariffs on the EU has had a negative impact by curbing investment. He said at a press conference after the Eurozone finance ministers’ meeting in Brussels on Monday that the new round of rising energy prices in recent months has also dragged down output. Nevertheless, Dombrovskis stated that a resilient labor market and a “still on track” inflation slowdown should contribute to a gradual recovery in growth momentum, although the magnitude may not be as high as previously expected. We expect the EU economic growth rate to be slightly lower than our expectations in the autumn forecast, “he said. The European Commission predicted in mid November that the EU’s economic growth rate will accelerate to 1.5% this year, and the eurozone will accelerate to 1.3%.
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