IMF Chief: US-China trade tensions, a threat to world economy
While expressing her concerns, the International Monetary Fund Chief, Christine Lagarde, today said that the fresh trade tensions between the United States and China were the main threat to the world economy. She said in a press conference that, “Clearly the tensions between the United States and China are threat to the world economy. The recent “rumours and tweets” made an agreement between the countries less likely.”
President Donald Trump jolted the global markets on Monday by threatening on Twitter that tariffs already imposed on $200 billion in Chinese exports to the US would more than double to 25 per cent on Friday from their current level of 10 per cent.
French Economy Minister Bruno Le Maire also warned about the impact of a trade war between the United States and China. These two are the world’s biggest economies. He said, “We are looking very carefully at the current negotiations between China and the US. We want these negotiations to stick with principles of transparency and multilateralism.” He also said that raising tariffs is always a negative decision for the US, China, Europe and all over the world.
China said Tuesday its top trade negotiator will visit the United States for talks with his American counterparts this week.