The International Monetary Fund (IMF) warned world economic leaders on Saturday that a recent wave of trade tariffs would significantly harm global growth, a day after U.S. President Donald Trump threatened a major escalation in his dispute with China. 2 economy — slapping tariffs on $34 billion US worth of each other's goods so far. Trump on Friday threatened tariffs on all $500 billion of Chinese exports to the United States. Haruhiko Kuroda said he hoped the debate at the G20 gathering would lead to an easing of retaliatory trade measures. But he said there have been microeconomic effects on individual businesses, adding that the administration was closely monitoring these and looking at ways to help U.S. farmers hurt by retaliatory tariffs.

Source: CBC News July 21, 2018 16:41 UTC