A trade war unleashed by US President Donald Trump would have far-reaching economic consequences for the initiators too, according to European Central Bank President Christine Lagarde. "If we were to go to a real trade war,

Olli Rehn, an ECB policymaker, said that the U.S. administration must be encouraged to avoid leveraging "unnecessary and very harmful" tariffs on Europe through a negotiations solution. "The simple conclusion is that we should aim at a negotiated solution,

Christine Lagarde, president of the European Central Bank (ECB), has warned that Trump’s trade policies are dragging the world economy toward a major recession. She pointed to escalating trade tensions and unpredictable tariff battles as major risks,