The International Monetary Fund (IMF) fears that active and potential tariffs between the U.S. and China could hinder global economic output by 0.5 percent in 2020.
IMF Managing Director Christine Lagarde said in a blog post that this could be a global loss of $455 billion, which is larger than the size of South Africa’s economy.
“There is strong evidence that the United States, China, and the world economy are the losers from the current trade tensions,” Lagarde wrote.
“These are self-inflicted wounds that must be avoided,” she added, saying that this can be accomplished by removing trade barriers and avoiding future ones.
She also noted that President Trump’s recently proposed tariffs on Mexico are “of concern.”
……..
- Discussion
-
Trump tariffs could lead to global loss of over $450 billion, IMF warns https://t.co/wwkWFM4s1y pic.twitter.com/ZwhMEnbCWF
— The Hill (@thehill) June 5, 2019
You must be logged in to reply to this topic.