ECB Says Protectionism Would Hurt Economy With U.S. Hit Severely

The European Central Bank repeated its warning that a rise in trade protectionism would undermine the global economy, and said the U.S. would bear the brunt of the damage.

“In the event of a significant increase in protectionism, the impact on global trade and output could be material,” ECB researcher Lucia Quaglietti wrote in an Economic Bulletin article published Monday. “The impact could be particularly severe in the U.S.”