Trade war: IMF chief warns against protectionism, says it threatens economic growth
President Donald Trump last month imposed steep tariffs on steel and aluminum imports, and announced pending tariffs on $50 billion in Chinese goods in retaliation for alleged theft of intellectual property. Since then Washington and Beijing have escalated threats of new import duties, raising the real risk of an all-out trade war. Governments "need to steer clear of protectionism in all its forms," Lagarde urged.
International Monetary Fund chief Christine Lagarde today issued a stern warning to governments to avoid undermining global growth with protectionist trade policies. Image source: Reuters