IMF: US tariffs could undermine global tradeThe Trump administration's trade policies are likely to hurt the US economy and undermine the world's trade system, the IMF has warned. IMF head Christine Lagarde has already warned that the US and China trade row threatens global confidence and investment -- Photo: EPAIMF Director Christine Lagarde said a trade war would lead to "losers on both sides" and could have "serious" impact. Those tariffs have already prompted Europe, Mexico, Canada and China to introduce or announce plans for counter-measures in retaliation. The IMF said the White House, which has also threatened to withdraw from the North American Free Trade Agreement (Nafta), is responding to rising concerns about the side-effects of free trade. Opposing outlooksThe IMF outlined the risks in its annual review of the US economy, which offered a bright near-term outlook.

Source: VietNamNet News June 15, 2018 06:33 UTC