The Trump administration’s trade policies are likely to hurt the US economy and undermine the world’s trade system, the IMF has warned.
IMF Director Christine Lagarde said a trade war would lead to “losers on both sides” and could have “serious” impact.
The caution came as the US prepares to levy new tariffs on $50bn worth of Chinese imports.
New duties on foreign steel and aluminium, announced in March, have already gone into effect.
Those tariffs have already prompted Europe, Mexico, Canada and China to introduce or announce plans for counter-measures in retaliation.
via BBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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