Escalating trade war has been a concern for the European Central Bank (ECB), partly due to the export-driven nature of the euro area economy.
However, speaking to CNBC in Sintra, Portugal, the Austrian central bank governor noted that there could be some opportunities for Europe.
"There might be cases of trade diversions," he pointed out. "If the U.S. is isolating itself increasingly from world trade that would mean there's a number of trade relationships, there might be more going…to the euro zone, we might have stronger cooperation also in technological ways between Europe and China.
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