IMF: US, China tariffs could lower global GDP by 0.8% in 2020

Dhwani Mehta FXStreet

Following an event hosted by the New York Times on Thursday, the International Monetary Fund (IMF) spokesman Gerry Rice warned that the global GDP could be reduced by 0.8%, in the face of the tariffs imposed or threatened by the US and China.

Key Quotes:

“I don’t see it in U.S. as that big an impact.”

“World economic activity remained subdued, with trade and geopolitical tensions causing uncertainty and eroding business confidence, investment and trade.”

“Trade tensions .... are not only a threat, but are actually beginning to weigh down the dynamism in the global economy.”

“U.S.-China tariffs “could potentially reduce the level of global GDP by 0.8% in 2020, with additional losses in future years.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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