IMF warns U.S.-China tariffs to slash global growth in 2020
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International Monetary Fund has warned that current and threatened U.S.-China tariffs could slash global economic growth by 0.5 percentage point in 2020.
The warning was sounded by IMF Managing Director Christine Lagarde in a blog and briefing note for G20 finance ministers and central bank governors in Washington.
Christine said taxing all trade between the two countries, as President Donald Trump has threatened would cause a loss larger than G20 member South Africa’s economy.
