IMF Managing Director Christine Lagarde speaks at the U.S. Chamber of Commerce in Washington, D.C., on Tuesday. By Heather Long Heather Long Economics correspondent Email Bio Follow April 3 at 10:28 AM The International Monetary Fund calls this a “delicate moment” for the global economy as many countries are in the midst of a slowdown. Resolving President Trump’s trade war and Brexit could go a long way toward preventing a deeper slowdown, the IMF said.
In new research released Wednesday, the IMF found that focusing on bilateral trade deficits, as Trump has done with China, is useless because erecting trade barriers against one country such as China typically results in the United States importing more from other nations. It is also a drag on global growth as businesses have to figure out new supply chains, and countries that are not as adept at producing products have to beef up production.
Trump has repeatedly said he is using tariffs as a negotiating tool to get China to agree to stop stealing U.S. intellectual property and stop subsidizing so many industries. Top Chinese officials are in the United States this week for further trade talks, although it’s unclear if the two countries will be able to come to an agreement.
Trump has put hefty tariffs on nearly 15 percent of all U.S. imports. Calls are growing for Trump to remove tariffs on steel and aluminum imports, which are causing costs to rise for many automakers and companies that use those metals to manufacture finished products in the United States. The Aluminum Association, which represents many companies that use aluminum, urged Trump to remove the metal tariffs Wednesday, a message that has been echoed by many Republicans in Congress.
Not surprising! I mean isn’t everything wrong or bad Trumps fault ? You people.
Trump Unconscious
MuhammadKhursid ChowkidaroKaScam मंत्री तथा मुख्यमंत्री आप करो घोटाले.. लूटो जनता को.. मीडिया आपके साथ है..😊
You can spin it like that but not exactly what she said. The US must stand up for it's rights we are being eclipsed by the world. MSM is shameful in it's efforts to destroy our country. Worse than Russian or Chinese interference.
How difficult is this ? Clearly both are to blame.We need to abolish the central banks and the trade will correct itself.
Of course, everything bad is Trump's fault
The economy is lacking the boost from tax returns. Millions of people who normally received a refund are now having to pay the IRS. There will be lots of unsold cars in 2019
Trump doesn't have a 'trade policy', he just shoots his mouth off to make the MAGA idiots cheer
Christine Legarde needs to reassess this statement. Why is US growth exceeding projections whilst Europe goes down the pan?
reduce trade deficit-Fail!! reduce national debt-Fail!!! after riding the previous administrations economic success..I am really looking forward to his excuses and lies when the US economy stagnates or falls into recession.
I thought we had a trade deal with Mexico? How can we trade with closed borders?
LOL! Whose fault is the financialized economy that we have had for a quite a while now? Is it the baby of the committee to save the world --Rubin, Greenspan, and Summers?
Think this is a slowdown? Wait until 45 closes the borders and see the auto industry crash, grocery bills skyrocket and many other bad things.
❤💙💙💙💛💛💛
If you cannot do your job, blame Trump. This has a familiar ring to it. Will anyone ask why is the US doing so well if he is wrong? Sshhh!
Winter is coming
Our economic slowdown is nothing compared to China's ...China is about to break
That’s would be a fair assessment...
D'abord Powell sera chassé de la Fed.. à propos du FMI : quel est son véritable rôle dans le monde ? Il apporte quoi à l'économie mondiale si ce n'est l'inertie.
Does Ethan Hunt work for the IMF?
I love it when filthy rich people argue over why their not richer.
If you don't think the FED plays a role in this then you are dumber than owl shit
Shocking. The bankruptcy king isn’t an economic genius. Wish we could have all seen this coming.
China just purchased $28 Billion in Euro Jets instead of Boeing.
These global organizations need to be shut down!!!
Do ya think😑🙄
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