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as declared in "An unfavorable external environment, such as growing trade tensions with the U.S., can dampen confidence and take a toll on economic expansion," said Valdis Dombrovskis, vice president for the euro at the European Commission, the EU's executive. Still, the ECB has put off interest-rate increases until after summer 2019 on the back of rising trade tensions and weak underlying inflation. Economic confidence didn't bounce back after eurozone growth slowed in the first three months of the year, which could be linked to trade tensions, Mr. Moscovici said. Mr. Trump unveiled this week additional tariffs on $200 billion of Chinese imports after an initial round of duties on $34 billion of goods from China. "A further escalation of protectionist measures is a clear downside risk," Mr. Moscovici said.

U.S. Economic Strength Gives Trump Leeway in Trade Fight With China

WASHINGTON—The U.S. economy's strength is emboldening the Trump administration to play hardball in its trade offensive against China. Tariffs tend to be economic downers with an impact like sales taxes, which push up costs for consumers and businesses and slow growth. But so far it is tough to argue that the spat with China is having a broad macroeconomic impact. Economic...

Fed Chair Jerome Powell Says Trade Policies Complicate Economic Outlook

as informed in Mr. Powell spoke in an interview on the Marketplace radio program set to air Thursday evening. "I sleep pretty well on the economy right now," Mr. Powell said in the interview, according to a transcript posted online Thursday afternoon. Mr. Powell pointed to considerable uncertainty around the range of possible economic effects of recent trade measures and how they might influence the Fed's plans for raising short-term interest rates. If the Trump administration is successful over time in lowering trade tariffs, "then that'll be a good thing for our economy," Mr. Powell said. Mr. Powell has largely refrained from commenting on trade policy because he has said it isn't part of the Fed's responsibilities.

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