Threat of trade war blamed for fall in UK, EU growth forecasts

‘No winners, only casualties’ if US imposes further tariffs, European commission warns

The European commission has cut its growth forecasts for the UK and Europe this year, blaming the threat of a trade war with the US, which it warned would produce “no winners, only casualties”.

Britain will slump to the bottom of the EU league table for growth in 2018, the commission said, as it is “particularly exposed” to an escalation of trade tensions and while Brexit uncertainty persists.

Related: EC cuts growth forecasts as trade war looms; US inflation hits six year high – as it happened

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Read the original at Economics | The Guardian.