The introduction of additional duties on imports into the U.S. is facing falling global GDP – IMF

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Christine Lagarde unveiled a worst-case scenario.

Introduction the administration of U.S. President Donald trump extra tariffs on imports to the States runs the risk of seriously impact on global economic growth of the country.

This was stated by the Director of the International monetary Fund, Christine Lagarde, in a report to the G20 meeting in Buenos Aires, writes Finance.co.uk.

“This is, of course, determines the impact on GDP, which, in the worst case scenario in the current situation, is 0.5% of GDP at the global level,” she said.

As noted, the statement of the head of the IMF has sounded next day after trump promised a new “wave” of raising rates on $500 billion of Chinese imports in the United States.

We will remind, on March 8, Donald trump officially announced that he would introduce a 25 percent duty on steel imports and a 10 percent import duty for imported aluminium. The new duties temporarily do not apply to Canada and Mexico, which together with the United States are members of the North American free trade agreement (NAFTA). In addition to these two States, trump said about the opportunity “to make an exception for Australia and other countries.”

In addition, trump approved the duties on Chinese goods worth about $ 50 billion. China stated that the United States unleashed the world’s largest trade war and imposed duties mirrored in the response to Washington.

The introduction of additional duties on imports into the U.S. is facing falling global GDP – IMF

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