LONDON — St. Louis Federal Reserve Bank President James Bullard said global trade and other risks remain high for a U.S. economy that may slow more sharply than expected.

As a result, the Fed “may choose to provide additional accommodation going forward, but decisions will be made on a meeting-by-meeting basis,” he said in remarks to a conference in London on Tuesday.

Bullard did not specifically discuss the preliminary trade deal reached between the United States and China last week, instead stressing that the uncertainty around global trade was likely to last, potentially for years.

Daily threats and counter-threats in the trade war, or announcements or rejections of tentative deals, “are just the manifestations of ongoing negotiations and manifestations of the trade regime uncertainty,” Bullard said.

“I’m not expecting any of this to go away in the years ahead,” he added, later telling reporters that the U.S.-China row had opened a “Pandora’s box” on a potential reversal of global trade openness.

Bullard also outlined the Fed’s playbook for dealing with a potential “ordinary recession.” He said the options to slash borrowing rates to zero, restart assets purchases and provide supportive policy promises, were still “state of the art.”