Citing the IMF's estimate, Lagarde said the existing tariffs that Washington and Beijing have imposed on each other's goods since 2018 combined with the "envisaged" tariffs of 25 percent on roughly 267 billion U.S. dollars in Chinese products that the United States has threatened to levy would reduce global gross domestic product (GDP) by 0.5 percent in 2020.
"It's a significant impact and one that is in the making," Lagarde said at the AEI event.
In addition to the trade dispute between the United States and China, Lagarde also mentioned the 5-percent tariffs on all Mexican goods sold to the United States scheduled to become effective June 10, the tariffs on foreign imports of autos and auto parts to the United States that have been put on hold for six months, as well as Washington's recent termination of India's preferential tariff treatment.
Taking India as an example, Lagarde said while depriving New Delhi of its preferential trade privilege only impacts a very small portion of U.S. trade with the South Asian nation, this move by the United States is "a signal that nothing is warranted."
The impact of trade tensions on global growth cannot be simplified by subtracting half a percentage point from the IMF's 2020 global GDP growth forecast of 3.6 percent, Lagarde said.
"You are not talking about 3.1 percent ... When we try to analyze from an economic point of view the impact of those trade restrictions, we actually aggregate several impacts," she said.
【国际英语资讯:Spotlight: IMF chief defends role of trade in harnessing global growth as frictions escalate】相关文章:
★ Facebook欲涉足招聘行业:社交巨头IPO后新动作(双语)
最新
2020-09-15
2020-09-15
2020-09-15
2020-09-15
2020-09-15
2020-09-15