The European Union is bracing for the economic hit from the new coronavirus epidemic, but it is still too early to estimate the magnitude, the bloc's commissioner for the internal market said Thursday.
Tourism is already feeling the pinch because "our Chinese friends haven't been coming to Europe for two months," Thierry Breton told a news conference.
He said supply chains reliant on China, including for the auto, medical, electronic, wood and toy industries, were also being affected. The commissioner spoke after a Brussels meeting of EU economy ministers.
If the disruptions continue, the EU stands ready to deploy economic support measures for virus-hit sectors after another ministerial meeting next month, Breton said.
Right now, however, "it's too early to say" what those measures would entail. "We are currently analysing the situation."