IMF's Lagarde Bemoans ‘Particularly Frustrating’ Trade Threats
(Bloomberg) -- International Monetary Fund head Christine Lagarde said the threat of a global trade war breaking out is “particularly frustrating” now, as trade has started to fuel global economic growth.
“We are in a reasonably good place economically, ” Lagarde said at an event at Dublin City University on Tuesday. “We are in a frustrating moment” on trade.
Trade tensions between the world’s two biggest economies are intensifying, with China last week vowing to retaliate "forcefully" against President Donald Trump’s threatened tariffs on another $200 billion in Chinese imports. On Monday, White House trade adviser Peter Navarro sought to ease investor concerns about U.S. trade policy indicating that a Treasury Department report later this week on American restrictions on foreign investment won’t be as sweeping as markets are anticipating.
On Brexit, Lagarde said the aim on “both sides” should be to minimize the damage caused by the U.K.’s exit from the bloc.
©2018 Bloomberg L.P.