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MNI BRIEF: Trade War To Increase Volatility Inflation -Panetta

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MNI (LONDON) - An escalation in trade barriers between blocs would increase the volatility of output and inflation in world economies and trigger severe losses in efficiency and welfare, Bank of Italy Governor Fabio Panetta said on Friday.

“Protectionism would not be as protective as it might seem, as blunt policies would inevitably be circumvented,” Panetta said, without mentioning U.S. President-elect Donald Trump's trade policy, and adding that bilateral restrictions would be channel products through third countries, increasing costs and reducing transparency.

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MNI (LONDON) - An escalation in trade barriers between blocs would increase the volatility of output and inflation in world economies and trigger severe losses in efficiency and welfare, Bank of Italy Governor Fabio Panetta said on Friday.

“Protectionism would not be as protective as it might seem, as blunt policies would inevitably be circumvented,” Panetta said, without mentioning U.S. President-elect Donald Trump's trade policy, and adding that bilateral restrictions would be channel products through third countries, increasing costs and reducing transparency.

Keep reading...Show less