Through quantitative easing, the European Central Bank has improved the liquidity of the euro zone and promoted economic recovery. In particular, the European Central Bank's purchase of bonds from southern European countries eased the pressure on these countries and bought them time for structural reform. However, with the gradual withdrawal of the European Central Bank, it has brought uncertainty to the development of some countries in southern Europe, especially Italy and Spain. After the tide recedes, who is a "naked swimmer" is still a question mark.
2. The external factor is America's inward trade policy. After taking office, US President Trump made major adjustments to US trade policy. He not only withdrew from a series of trade agreement negotiations, but also held high the banner of unilateralism and put pressure on major trading partners.
The EU is America's largest commodity trading partner. In 20 17, the total trade volume between Europe and America reached 632 billion euros, of which the deficit of the United States was119.7 billion euros. In this regard, Trump was deeply dissatisfied and initiated the imposition of tariffs on EU steel and aluminum products on the grounds of national security. This move has aroused the anger of the European Union.
3. The EU's trade surplus with the United States is mainly concentrated in three areas: agriculture, chemicals and automobiles. These three areas are also the EU's export advantages. In the EU's trade with the United States in 20 17, the surplus of agricultural products was 8.2 billion euros, the surplus of chemical products was 27.8 billion euros, and the surplus of machinery and transportation products reached 55.2 billion euros, of which the surplus of transportation was 366.5438 billion euros.
In the field of agriculture, both the United States and the European Union have huge subsidies, and the two sides are evenly matched. The interests of Europe and the United States are intertwined in the chemical field. Cars have become the main concern of both sides. German automobile products bear the brunt. Mercedes-Benz, BMW and Volkswagen have all invested and built factories in the United States, and the cars they produce constitute the main products exported by the United States to China.
Extended data:
Trade is one of the main driving forces of EU economic growth. The proportion of exports of goods and services in GDP increased from less than 40% in 2005 to 50% in 20 17.
The trade sanctions initiated by the United States against the EU will obviously bring uncertainty to the EU's economic growth prospects. This is why the European Union listed the United States as one of the main reasons for the uncertainty of economic growth in its forecast report released recently.
After the outbreak of the international financial crisis, the European Union launched a large-scale fiscal stimulus in response to the crisis transmission effect from Wall Street, which led to the unsustainable finances of some EU member States and the outbreak of the European debt crisis, thus making Europe lose its development opportunities for nearly a decade.
Reference source: Public Network-Europe's economic growth faces uncertainty