While the inflation impact is less clear, the short to medium-term effects may even prove disinflationary for the euro area, Cipollone added.
"Relevant Chinese airlines and Boeing in the United States have suffered greatly," a spokesperson said.
U.S. President Donald Trump's global trade war has rattled financial markets and raised fears of a recession, particularly as tit-for-tat tariffs between the world's two biggest economies threaten to upend supply chains and a whole range of industries.
Trump’s barrage of tariffs against global trading partners has reverberated around the United States over the past few months, affecting the livelihoods of myriad Americans, including many who said they voted for him.
Investors were also keeping tabs on China after President Xi Jinping and other top leaders last week discussed plans to boost consumption in the world's number two economy.
Beijing has acknowledged that global economic vicissitudes have strained its economy, long dependent on exports
Across the country, car models rolling off assembly lines like this have gone from concept to release in record time -- known in the industry as "China Speed", the envy of foreign competitors.
Toyota Chairman Akio Toyoda and his founder family have proposed acquiring Toyota Industries in a possible 6 trillion yen ($42 billion) deal.
Singaporean investors said at a roundtable by EBL
The benchmark index of the Dhaka Stock Exchange edged up 0.17 percent to 5,205.23 points
If Samsung "fully absorbs" the proposed tariff cost instead of shifting production elsewhere "approximately four trillion won ($2.7 billion) -- or some 33 percent of its smartphone operating profit -- would be directly exposed"
Despite their concern, the ministers said they were ready "to engage in a frank and constructive dialogue with the U.S. to address trade-related concerns".
"The United States agreed that the two sides should initiate negotiations on a reciprocal trade agreement," according to a government statement.
Stocks on Wall Street and across Asia saw huge surges in reaction to Trump's announcement that he was halting a levy hike for almost all nations for 90 days.
The world's second-largest economy has gotten off to a bumpy start this year
While slapping another round of tariffs on China, Trump said his Chinese counterpart would want to talk to him.
Regional head of Holcim Group meets chief adviser
