Lagarde: The results of the US-EU trade protocol are not far from the baseline assumptions of the European Central Bank.

Jin10 Data reported on August 20 that European Central Bank President Lagarde stated on Wednesday that the trade agreement between the United States and the European Union is slightly higher than expected but not far from the baseline assumptions of the European Central Bank. She stated, “The trade agreement establishes that the effective average tariff on U.S. imports of Eurozone goods is estimated to be between 12% and 16%.” “This effective average tariff rate is slightly higher than the scenario used in our baseline forecast in June, but still close to it.” Lagarde said, “The outcome of the trade agreement is far below the serious scenario where U.S. tariffs exceed 20%.”