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Rollercoaster of Trade
- The recent ruling by a U.S. trade court rescinding much of President Trump's tariffs has thrown U.S. policy into the further uncertainty.
- At,first glance, this ruling could weaken the US position in ongoing negotiations with trade partners, including the EU and China.
- The latest bout of trade uncertainty also complicates the outlook for central banks. As they prepare for their next policy meeting in June.
- For the ECB, the June macroeconomic forecasts could also include a further downgrade to near term growth protections, with governing council members striking a relatively dovish tone in recent weeks.
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