ECB releases its economic bulletin of its April monetary policy meeting

ECB tariffs
  • But escalating trade tensions could have grave consequences for global economy
  • Eurozone car industry would incur losses of 4% on US tariffs, simulation shows
  • Consequences of the tariffs implemented last year pose only a modest adverse risk to the global and Eurozone outlook

Nothing much of note from the release here but if anything, it highlights that European officials aren't too concerned by the prospects of tariffs just yet. That said, sentiment is a different issue and I reckon auto tariffs will indeed have a significant dent on German economic outlook as well as the euro currency if and when the time comes.