Europe saw stronger growth at start of year, but Trump's tariffs have darkened outlook

FRANKFURT – Europe’s system grew much powerfully successful the archetypal 3 months of the year, lone to spot hopes for an ongoing betterment rapidly squelched by U.S. President Donald Trump’s commercialized war.

Gross home merchandise successful the 20 eurozone countries grew 0.4% successful the archetypal quarter, improving connected 0.2% maturation successful the past portion of 2024, according to authoritative figures released Wednesday by European Union statistic bureau Eurostat.

But connected April 2, conscionable 2 days aft the extremity of the quarter, Trump announced an onslaught of caller tariffs connected astir each U.S. trading spouse and deed goods imported from the EU with a 20% tariff rate. That has led to wide downgrading of Europe’s maturation outlook for the twelvemonth since its system is heavy babelike connected exports and the U.S. is its largest azygous export destination.

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