Ecofin: EU finance ministers discuss tariffs and European defense
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The Ecofin meeting is currently underway in Warsaw, where European finance and economy ministers are gathering for an informal discussion that will continue until tomorrow. Among the attendees is Italian Minister of Economy Giancarlo Giorgetti, following the presentation of the Def, the document outlining Italy's economic and financial forecasts. This year, the Def has raised concerns within the Italian government, which was forced to revise its growth projections downward.
Today, the ministers will discuss the ongoing trade war, specifically focusing on U.S. tariffs. According to simulations released by the European Commission, the impact of the tariffs will be more damaging to the U.S. GDP (-0.8%) than to the European GDP (-0.2%). However, sources suggest that the atmosphere has become more relaxed following the announcement of a 90-day suspension of the tariffs. This afternoon, the meeting will include a session with central bankers to discuss the effects of the tariffs on financial markets.
Tomorrow, Saturday, April 12, the ministers will focus on European defense funding projects and will hear a presentation from the Bruegel think tank. The report proposes the creation of a European Defense Mechanism (EDM), which would manage defense procurement and the joint organization of arms supplies.
Today, the ministers will discuss the ongoing trade war, specifically focusing on U.S. tariffs. According to simulations released by the European Commission, the impact of the tariffs will be more damaging to the U.S. GDP (-0.8%) than to the European GDP (-0.2%). However, sources suggest that the atmosphere has become more relaxed following the announcement of a 90-day suspension of the tariffs. This afternoon, the meeting will include a session with central bankers to discuss the effects of the tariffs on financial markets.
Tomorrow, Saturday, April 12, the ministers will focus on European defense funding projects and will hear a presentation from the Bruegel think tank. The report proposes the creation of a European Defense Mechanism (EDM), which would manage defense procurement and the joint organization of arms supplies.