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Summary of U.S., China trade tariffs escalating would be 'costly for everybody,' IMF deputy director says



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U.S., China trade tariffs escalating would be 'costly for everybody,' IMF deputy director says


An escalation of tensions around trade and tariffs would have economic consequences around the world, Gita Gopinath, deputy managing director of the IMF, said.

https://www.cnbc.com/2024/10/23/us-china-trade-tariffs-escalating-would-be-costly-for-everybody-imf-.html

The International Monetary Fund has warned that an escalation of trade and tariffs tensions between the U.S. and China would have costly economic consequences around the world. Gita Gopinath, deputy managing director of the IMF, said that the tensions would lead to lower output, higher inflation, and pressure on economic growth. The IMF has also warned that increasing protectionist policies are a downside risk to growth and could weigh down medium-term growth prospects.