Tariffs imposed or threatened by the United States and China could shave 0.8% of...
WASHINGTON - Tariffs imposed or threatened by the United States and China could shave 0.8% off global economic output in 2020 and trigger more losses in future years, the International Monetary Fund said on Thursday.
Rice told a regularly scheduled IMF news conference that the global lender is to release a new revised economic outlook next month, but provided no details. “Trade tensions .... are not only a threat, but are actually beginning to weigh down the dynamism in the global economy,” he said, adding U.S.-China tariffs “could potentially reduce the level of global GDP by 0.8% in 2020, with additional losses in future years.”
“Trade tensions have only grown. There is no agreement that is in sight,” Hamrick said, noting that growing concerns in the business sector were starting to bleed into consumer sentiment.
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