IMF Warns Tariffs Could Come At 'significant Economic Cost'
Fahad Shabbir (@FahadShabbir) Published September 21, 2018 | 02:37 AM
Washington, Sept 20 (APP - UrduPoint / Pakistan Point News - 21st Sep, 2018 ) :Worsening trade tensions and exchange of tariffs could cause "significant economic cost" to the global economy, an International Monetary Fund spokesman warned Thursday.
The global lender is still assessing the impact of the duties imposed so far but the economic costs "will quickly add up," IMF spokesman Gerry Rice told reporters.
The United States is due to impose punitive tariffs on $200 billion in Chinese goods on Monday, bringing the total to $250 billion, and China has retaliated on $110 billion in US goods.
Rice said that "depending on specifics and how they play out, the imposition of tariffs could come at a significant economic cost."
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