Europe could fall into recession in 2025 under Trump's economic proposals, a major EU bank said.
AdvertisementThe eurozone economy faces the possibility of a looming recession as tariffs promised by President-elect Trump look set to dampen growth, according to analysts at a Dutch bank.
Trump pledged on the campaign trail to impose a fresh era of trade tariffs, building on policies he enacted during his first term as president.
European Union economic growth is already struggling, and has lagged behind the US in recent years.
He said Europe's economic challenges, including high energy costs, sluggish economic growth, and geopolitical instability, would only get worse in the event of a tariff battle with the US.
Persons:
—, Trump, James Knightley, Nigel Green, Green
Organizations:
ING, Service, Trump, deVere
Locations:
Europe, China, Europe's, Ukraine, NATO