Must see video: Ray Dalio’s Warning
European Central Bank Governing Council Member and Latvian Central Bank Governor Martins Kazaks (pictured) warned Thursday that US President Donald Trump’s trade restrictions would harm Latvia’s and EU’s “export-driven economy,” leading to higher prices and weaker growth. In an interview with LTV’s Rita panorama on Thursday, Kazaks stressed that trade barriers are detrimental, particularly for Europe. “All restrictions and obstacles to trade are bad for us,” he said, noting that such policies could slow economic activity and hurt the labor market. Kazaks’ remarks follow Trump’s threat to impose “far larger” tariffs on the EU and Canada if they collaborate against US interests. The warning came after both Canadian and EU leaders criticized his new auto tariffs.