Retaliatory Trade Tariffs Could Backfire on Asia, IMF Warns
==========
The IMF warns that retaliatory trade tariffs could undermine Asia's economic prospects, raise costs, and disrupt supply chains; IMF Asia-Pacific director Krishna Srinivasan spoke on November 19, 2024, highlighting the acute risk from escalating trade tensions; US President-elect Donald Trump plans a 60% tariff on Chinese goods and at least a 10% levy on other imports; October saw the EU increase tariffs on Chinese electric vehicles to 45.3%, prompting retaliation from China; IMF forecasts global economic growth at 3.2% for 2024 and 2025, while Asia's growth is projected at 4.6% for 2024 and 4.4% for 2025.
#Imf #TradeTariffs #Asia #EconomicGrowth #KrishnaSrinivasan #Trump #China #Eu #Inflation #SupplyChains
https://www.asiafinancial.com/retaliatory-trade-tariffs-could-backfire-on-asia-imf-warns
Asia Financial /
npub1tf…4lkk0
2024-11-19 11:15:00
Author Public Key
npub1tfqzenj4wwscy7hhrs7d9wygkqncl5ywgqlcc32lffwtg5yskruq74lkk0Published at
2024-11-19 11:15:00Event JSON
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"content": "Retaliatory Trade Tariffs Could Backfire on Asia, IMF Warns\n==========\n\nThe IMF warns that retaliatory trade tariffs could undermine Asia's economic prospects, raise costs, and disrupt supply chains; IMF Asia-Pacific director Krishna Srinivasan spoke on November 19, 2024, highlighting the acute risk from escalating trade tensions; US President-elect Donald Trump plans a 60% tariff on Chinese goods and at least a 10% levy on other imports; October saw the EU increase tariffs on Chinese electric vehicles to 45.3%, prompting retaliation from China; IMF forecasts global economic growth at 3.2% for 2024 and 2025, while Asia's growth is projected at 4.6% for 2024 and 4.4% for 2025.\n\n#Imf #TradeTariffs #Asia #EconomicGrowth #KrishnaSrinivasan #Trump #China #Eu #Inflation #SupplyChains\n\nhttps://www.asiafinancial.com/retaliatory-trade-tariffs-could-backfire-on-asia-imf-warns",
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