April 11, 2018 / 12:05 PM / a year ago

ECB's Draghi sees small effect of trade tariffs, fears retaliation

FILE PHOTO - European Central Bank (ECB) President Mario Draghi walks after a news conference at the ECB headquarters in Frankfurt, Germany, December 8, 2016. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) - The direct effect on the euro zone economy of trade tariffs announced by the United States and China is small but they can hurt investor confidence and trigger retaliation, the head of the European Central Bank said on Wednesday.

“The direct effects are not big,” Mario Draghi told students at an ECB events. “In the end the key issue is retaliation.”

Reporting by Francesco Canepa; Editing by Alison Williams

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