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May 10, 2019

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IMF: Trade tensions threat to global economy

TRADE tensions and the exchange of tariffs between the United States and China pose a “threat to the global economy,” the International Monetary Fund warned yesterday.

Renewed tensions between the two economic superpowers were hanging over the negotiations that were set to resume later yesterday and IMF spokesman Gerry Rice renewed the call for a “speedy resolution.”

“Clearly tensions between the United States and China in the trade sphere are a threat to the global economy,” Rice told reporters. “As we have said before, everybody loses in a protracted trade conflict.” Rice called on “all parties to seek a resolution ... that strengthens the international trading system.”

The IMF once again downgraded global growth to 3.3 percent for 2019, two tenths lower than the January forecast.


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