Closing post
That is probably all from us from Davos today, unless there are some late developments.
Here’s our news story on today’s action:
Goodnight. GW
Scholz optimistic of avoiding German recession and US trade war
German Chancellor Olaf Scholz has declared he is convinced that Europe’s largest economy would not fall into a recession.
Scholz, who gives a special address to the World Economic Forum tomorrow, added he was optimistic Berlin could reach an agreement with Washington to avoid a trade war over new U.S. green subsidies (within the Inflation Reduction Act).
Scholz told Bloomberg TV:
“We are now discussing with the government and with all the political people in the United States that it should not happen that local content regulations are against European partners.
“And I’m quite optimistic that we will reach an agreement in this field.”
