U.S., China tariffs could lower global GDP by 0.8% in 2020: IMF
Source: Reuters
Business News
September 12, 2019 / 10:45 AM / Updated 11 minutes ago
Andrea Shalal 3 Min Read
WASHINGTON (Reuters) - Tariffs imposed or threatened by the United States and China could shave 0.8% off global economic output in 2020 and trigger more losses in future years, the International Monetary Fund said on Thursday.
IMF spokesman Gerry Rice said trade tensions were beginning to affect a world economy already facing challenges including a weakening of manufacturing activity not seen since the global financial crisis of 2007-2008.
Rice told a regularly scheduled IMF news conference that the global lender is to release a new revised economic outlook next month, but provided no details.
World economic activity remained subdued, with trade and geopolitical tensions causing uncertainty and eroding business confidence, investment and trade, he said.
Read more: https://www.reuters.com/article/us-imf-economy/u-s-china-tariffs-could-lower-global-gdp-by-0-8-in-2020-imf-idUSKCN1VX1WT?il=0
