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Investing.com -- The European Bank for Reconstruction and Development (EBRD) has warned that higher U.S. tariffs could potentially slow down economic growth in various countries across Europe, Central Asia, the Middle East, and North Africa.
This forecast comes despite these regions not being heavy exporters to the U.S., the world’s largest economy.
The development bank announced on Tuesday that the proposed tariff hikes would effectively increase the rate on imports to the U.S. from its over 30 countries of operation.
The rate is set to rise to 10.5%, a significant leap from the previous 1.5%.
The EBRD also stated that the indirect influence on demand for goods and services from large European economies, such as Germany, is likely to amplify the direct impact.
In light of these changes, the EBRD has revised its growth forecast for its countries of operation for 2025.
The bank now predicts a growth rate of 3%, a decrease from the previously projected 3.2%. This adjustment mirrors the potential economic challenges these countries could face due to the increased U.S. tariffs.
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