US-EU trade deal not far from ECB's baseline assumptions, Lagarde says

FRANKFURT, Aug 20 (Reuters) - The trade deal between the United States and the EU is somewhat higher but not far from the baseline assumed by the ECB, Christine Lagarde, the bank's president, said on Wednesday.

"The trade deal establishes an effective average tariff estimated to lie between 12% and 16% for U.S. imports of euro area goods," she said in Geneva.

"This effective average tariff is somewhat higher than – but still close to – the assumptions used in our baseline projections last June," she said. "The outcome of the trade deal is well below the severe scenario for U.S. tariffs of over 20%."