- IMF's Managing Director Lagarde: U.S.-China tariffs are "self-inflicted wounds that must be avoided"
Market news
5 June 2019
IMF's Managing Director Lagarde: U.S.-China tariffs are "self-inflicted wounds that must be avoided"
- Incoming data suggests that global growth slowdown may have bottomed out, with some firming in growth projected for 2020
- Global growth outlook vulnerable to trade tensions, Brexit, uncertain recoveries in Argentina and Turkey
- If global growth falters, policymakers should act in a coordinated fashion with decisively eased monetary policy, stimulus in countries with fiscal space
- GDP loss from U.S.-China tariffs could reach $455 billion, larger than South Africa's annual economic output
- Current and contemplated U.S.-China tariffs could reduce global GDP growth by 0.5% in 2020
- U.S.-China tariffs are "self-inflicted wounds that must be avoided"; trade barriers should be reversed
- Efforts to modernize WTO's rules on subisidies, intellectual property and services should be stepped up
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