Eurozone exports to US unlikely to rise in trade war – ECB study
US tariffs rerouted Chinese goods to eurozone, but exporters there failed to boost US presence
The tariffs implemented during president Donald Trump’s first administration did not help firms in the eurozone to garner market share in the US, a study by the European Central Bank has found.
In a paper published on May 2, ECB economists Vanessa Gunnella, Giovanni Stamato and Alicja Kobayashi examine trade patterns in 2018, when US levies on some Chinese exports increased the effective tariff rate by 18 percentage points.
They find that although this led to a substantial drop in Chinese exports
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