Economy 07-11-2018

IMF warns of the aftermath of trade war between China and the US

"The trade war between the two biggest economic powers is the main factor of uncertainty," IMF Managing Director Christine Lagarde said on Tuesday after meeting in Beijing (Chinese capital) with Chinese Premier Li Keqiang.

The International Monetary Fund (IMF) warns that the trade war between the United States and China affects economic growth.

According to Lagarde, the crisis will cost the Asian giant 0.6 percentage points of growth over previous estimates, while the United States could stop growing 0.2 percentage points.

The managing director of the organization met with Li in order to analyze the situation together with the president of the World Bank (WB), Jim Yong Kim, the head of the World Trade Organization (WTO), Roberto Azevedo, and the secretary general of the Organization for Economic Cooperation and Development (OECD), José Ángel Gurría.

In turn, Li acknowledged the pressures that reduce the growth of his country, but stressed that Beijing has "enough means and tools to face the difficulties."

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