Manufacturing is set to be core to Europe’s future. More jobs will be created and growth will increase if certain economic and industrial changes are well managed over the coming years, according to new research from Eurofound.
The EU, China, the US, Mexico and Canada, are projected to suffer economically from the re-emergence of economic protectionism, and a significant increase in trade tariffs. In the case of the EU, the bloc would experience a 1% contraction in GDP, a 0.3% lower rate of employment, and a 1.1% decrease in imports by 2030, compared to a ‘no new tariffs’ baseline scenario.
