ECB/Knot: Increasing Trade Barriers Pose Financial Risks

Klaas Knot, a member of the European Central Bank's Governing Council and President of the Dutch Central Bank, stated that increasing geopolitical tensions and rising trade barriers are creating economic risks and making it more difficult to withstand new shocks to the international financial system. Knot mentioned, “We have experienced a presidential debate in the U.S. where the word tariff was frequently used, and there are more places in the world where trade barriers are being erected. This will bring about a series of new risks and negatively impact our ability to come together and jointly address global issues.”