IMF chief says US-China" threatens" tensions to the global economy
PARIS: The Head Of The International Monetary Fund Said Tuesday That The New Trade Barriers Between The United States And China Posed The Greatest Threat To The Global Economy.
" It Is Clear That The Tensions Between The United States And China Are The Threat To The Global Economy," Christine Lagarde Told Journalists At A Conference In Paris, Adding That Recently" Rumors And Tweets" Made An Agreement Between The Countries Less Likely.
President Donald Trump Shocked The World Markets On Monday By Threatening Twitter That Tariffs Already Imposed On $ 200 Billion In Chinese Exports To US Would Be More Than Double To 25 Per Cent On Friday From Their Current Level Of 10 Per Cent.
Also Speaking At The Paris Forum Event, Minister Of French Economy Bruno Le Maire Warned About The Impact Of A Trade War Between The World's Two Biggest Economies.
" We Are Very Carefully Looking For The Current Negotiations Between China And The US. We Want These Negotiations To Stick To The Principles Of Transparency And Multilateralism ," He Said, Speaking In English.
He Called On The Two Sides To" Avoid Decisions That Would Threaten And Jeopardize World Growth In The Coming Months."
" Raising Tariffs Is Always A Deadlock And A Negative Decision For Everyone - For The US, For China, For The Eurozone, For Europe And For Growth All Over The World," He Said.
Le Maire Cautioned That During A Period Of Slowdown In World Growth There Should Not Be" Negative Decisions That Could Accelerate That Slowdown."
China Said On Tuesday Its Top Trade Negotiator Will Visit The United States For Talks With His American Counterparts This Week.
The Countries Have Been Locked In Talks To Resolve Tensions That Have Both Of Them Impose Tariffs On Goods Worth $ 360 Billion.
Treasury Secretary Steven Mnuchin Has Described The Negotiations As 90 Per Cent Complete But Told Reporters That In Recent Days The Talks Went" Substantially Backward," Which Blamed On China Reneging On Previous Commitments.