European Central Bank (ECB) President Mario Draghi said it is "too early" to assess the impact of the recent agreement between Europe and the United States over trade. But that in any case it is a "good sign."
The deterioration in trade relations between the U.S. and Europe has been closely watched not only by market players, but also by central bankers in Frankfurt. Higher tariffs and restrictions by the U.S. could ultimately dent the euro zone economy at a time when the region has finally started to see some positivity following the sovereign debt crisis of 2011.
However, President Donald Trump and the European Commission struck a deal on Wednesday that was welcomed by many in Europe. Their agreement put a break on new tariffs and promised to work toward stronger trade links in the coming months.
Draghi told reporters that the ECB "took note" of the deal. "It's too early to assess the actual content," he said.
"It is a good sign, because in a sense it shows that there is a willingness to discuss trade issues in a multilateral framework again," the central banker said.