Paris: Fresh trade tensions between the United States and China were the main threat to the world economy, Christine Lagarde, the managing director of the IMF, said. “Clearly the tensions between the United States and China are the threat for the world economy,” she said, adding that recent “rumours and tweets” made an agreement between the countries less likely.
President Donald Trump jolted global markets on Monday by threatening on Twitter that tariffs already imposed on $200 bn in Chinese exports to US would more than double to 25 pc on Friday from their current level of 10 pc. French Economy Minister Bruno Le Maire warned about the impact of a trade war between the world’s two biggest economies.
